Camden, Madison County, Mississippi Property Taxes
The median property tax rate in Camden, Mississippi is 1.40%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Camden, the typical annual property tax bill reaches $468, which is significantly lower than the national median of $2,690. Property taxes in Camden are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Camden'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 Camden or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Camden, Madison County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$608
$564
Ownwell’s Camden Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Camden. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Camden to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities, making it easier to plan your finances. For those interested in more granular details, you can explore neighborhood-level trends by scrolling down for additional localized information. Your property’s assessed value, determined by the county, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Camden, Madison County, Mississippi
Property taxes in Camden, Mississippi, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Camden is 1.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Camden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Camden 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 Camden's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39045 zip code has the highest median property tax rate of 1.40%, while the 39045 zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Camden provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Camden Tax Rate
1.40%
Average Madison County Tax Rate
0.96%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Camden, Madison County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39045 | 0.52% | 0.68% | 1.40% | 1.45% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Camden, Madison County, Mississippi
In Camden, 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 Madison 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. 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 Camden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 39045 has both the highest and lowest median tax bills at $468.
Property Tax Assessment Values Across Camden, Madison County, Mississippi
Source: Ownwell
$32,770
$127,708
$222,645
Average Camden Assessed Value
$43,430
Average Madison County Assessed Value
$167,330
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Camden, Madison County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39045 | $16,200 | $26,810 | $43,430 | $71,990 | $118,336 |
Source: Ownwell
Property Tax Bills Across Camden, Madison County, Mississippi
In Camden, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if the median home price is $43,430, the assessed value is determined by local guidelines. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property location, home size, and improvements can influence the assessed value. The tax bill can vary significantly, with the 25th percentile at $257 and the 75th percentile at $802, indicating a range influenced by property values and specific assessments. Homeowners in Camden experience a median tax bill of $468, which is lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable in Camden compared to other regions. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Camden Tax Bill
$468
Average Madison County Tax Bill
$1,681
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Camden, Madison County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39045 | $135 | $257 | $468 | $802 | $1,478 |
Source: Ownwell