Columbia, Mississippi Property Taxes
The median property tax rate in Columbia, MS is 1.30%, slightly below the state median of 1.31% but still higher than the national median of 0.99%. With a median home value of $85,020 in Columbia, the typical annual property tax bill amounts to $1,178, which is lower than the national median of $2,690. Property taxes in Columbia are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Columbia'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 Columbia or another part of Lamar County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Columbia, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,105
$1,026
Ownwell’s Columbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbia 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 Columbia, Mississippi
Property taxes in Columbia, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbia is 1.30%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia 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 Columbia's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 39429 has the highest median property tax rate of 1.30%, while the lowest median tax rate is also 1.30% in the same zip code. Understanding how these areas compare with Columbia provides valuable insights into the varying tax landscape across Lamar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbia Tax Rate
1.30%
Average Lamar County Tax Rate
1.26%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39429 | 1.26% | 1.27% | 1.30% | 1.68% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, Mississippi
In Columbia, 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 Lamar 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 Columbia, 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. The median home price in Columbia is $85,020, with annual tax bills ranging from $574 at the 25th percentile to $2,871 at the 90th percentile. The zip code 39429 has both the highest and lowest median tax bill at $1,178. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Columbia Assessed Value
$85,020
Average Lamar County Assessed Value
$134,620
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39429 | $15,674 | $37,178 | $85,020 | $120,702 | $213,424 |
Source: Ownwell
Property Tax Bills Across Columbia, Mississippi
In Columbia, Lamar County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $85,020. Factors that influence the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For homeowners in Columbia, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $574, reflecting the lower end of the spectrum, while the 75th percentile tax bill is $1,706, and the 90th percentile tax bill reaches $2,871. The highest and lowest median tax bills in the area are both $1,178, specifically in the 39429 zip code. Compared to the national median property tax rate of 0.99%, Columbia's tax rates can be considered relatively moderate. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life for homeowners in the community.
Average Columbia Tax Bill
$1,178
Average Lamar County Tax Bill
$1,887
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39429 | $231 | $574 | $1,178 | $1,706 | $2,871 |
Source: Ownwell