Shuqualak, Mississippi Property Taxes
The median property tax rate in Shuqualak, MS is 0.84%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Shuqualak at $8,527, the typical annual property tax bill reaches $1,880, well below the national median of $2,690. Property taxes in Shuqualak are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shuqualak's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Shuqualak or another part of Kemper County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shuqualak, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s Shuqualak Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shuqualak with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shuqualak to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Shuqualak, Mississippi
Property taxes in Shuqualak, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shuqualak is 0.84%, which is lower than both the Mississippi state median of 0.88% and the U.S. national median of 0.99%. Local government entities within Shuqualak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shuqualak estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Shuqualak's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39361 zip code has the same median property tax rate of 0.84%. Understanding how these cities compare with Shuqualak provides valuable insights into the varying tax landscape across Kemper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shuqualak Tax Rate
0.84%
Average Kemper County Tax Rate
1.45%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shuqualak, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39361 | 0.65% | 0.72% | 0.84% | 0.96% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Shuqualak, Mississippi
In Shuqualak, Mississippi, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Kemper County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Shuqualak, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Shuqualak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both $1880, found in zip code 39361.
Average Shuqualak Assessed Value
$8,527
Average Kemper County Assessed Value
$50,005
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shuqualak, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39361 | $3,923 | $5,650 | $8,527 | $176,918 | $277,953 |
Source: Ownwell
Property Tax Bills Across Shuqualak, Mississippi
In Shuqualak, located in Kemper County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual property tax bill. Factors influencing the tax bill include the home's market value, the local tax rate, and any applicable exemptions or deductions. For instance, the median home price in Shuqualak is $8,527. Homeowners in the 25th percentile can expect tax bills around $966, while those in the 75th percentile might see bills closer to $2,794. At the 90th percentile, tax bills can rise to approximately $3,343. These property taxes significantly impact homeowners, influencing their monthly budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, the rates in Shuqualak provide a point of comparison for understanding local tax burdens.
Average Shuqualak Tax Bill
$1,880
Average Kemper County Tax Bill
$395
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Shuqualak, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39361 | $417 | $966 | $1,880 | $2,794 | $3,343 |
Source: Ownwell