Sumrall, Mississippi Property Taxes
The median property tax rate in Sumrall, MS is 1.31%, aligning with the state median but significantly higher than the national median of 0.99%. With a median home value of $105,445 in Sumrall, the typical annual property tax bill reaches $1,524, which is below the national median of $2,690. Property taxes in Sumrall are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Sumrall'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 Sumrall 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
Sumrall, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$1,381
$1,282
Ownwell’s Sumrall Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sumrall with just two data points. By entering your property’s estimated assessed value, the calculator applies the median tax rate in Sumrall 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 Sumrall, Mississippi
Property taxes in Sumrall, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sumrall is 0.52%, lower than both the Mississippi state median of 0.65% and the U.S. national median of 0.99%. Local government entities within Sumrall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumrall 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 Sumrall's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39482 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Sumrall 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 Sumrall Tax Rate
1.31%
Average Lamar County Tax Rate
1.26%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sumrall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39482 | 1.26% | 1.26% | 1.31% | 1.89% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Sumrall, Mississippi
In Sumrall, 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 Sumrall, 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 Sumrall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $1,524, found in the 39482 zip code.
Average Sumrall Assessed Value
$105,445
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 Sumrall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39482 | $15,789 | $47,335 | $105,445 | $177,210 | $247,941 |
Source: Ownwell
Property Tax Bills Across Sumrall, Mississippi
In Sumrall, located in 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 assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $105,445 in Sumrall, homeowners can expect varying tax bills depending on their property's assessed value. Factors such as property size, location, and improvements can influence the assessed value. In Sumrall, the tax bill ranges significantly, with the 25th percentile at $701, the 75th percentile at $2,549, and the 90th percentile reaching up to $3,514. This variability means that while some homeowners may find their tax bills manageable, others could face higher annual costs. Compared to the national median property tax rate of 0.99%, Sumrall's property tax bills reflect the local economic conditions and property values, impacting homeowners' financial planning and budgeting.
Average Sumrall Tax Bill
$1,524
Average Lamar County Tax Bill
$1,887
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumrall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39482 | $260 | $701 | $1,524 | $2,549 | $3,514 |
Source: Ownwell