Lumberton, Mississippi Property Taxes
The median property tax rate in Lumberton, MS is 0.30%, significantly lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Lumberton, the typical annual property tax bill is $317, far below the national median of $2,690. Property taxes in Lumberton 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 Lumberton'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 Lumberton 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
Lumberton, 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 Lumberton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lumberton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lumberton 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 Lumberton, Mississippi
Property taxes in Lumberton, MS, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lumberton is 0.47%, significantly lower than the U.S. national median of 0.99%. Local government entities within Lumberton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lumberton 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 Lumberton's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38654 zip code has the highest median property tax rate of 1.11%, while the 39328 zip code has the lowest median tax rate of 0.43%. Understanding how these cities compare with Lumberton provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lumberton Tax Rate
0.30%
Average Marion County Tax Rate
2.10%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lumberton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39455 | 0.15% | 0.19% | 0.30% | 0.91% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Lumberton, Mississippi
In Lumberton, 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 Marion 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 Lumberton, 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 Lumberton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $317 in the 39455 zip code, while the lowest is also $317 in the same zip code.
Average Lumberton Assessed Value
$80,630
Average Marion County Assessed Value
$47,810
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lumberton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39455 | $43,450 | $61,655 | $80,630 | $89,540 | $102,032 |
Source: Ownwell
Property Tax Bills Across Lumberton, Mississippi
In Lumberton, property tax bills are calculated based on the assessed value of your home, which is determined by the Marion County tax assessor. The assessed value is a percentage of the market value of your property. For instance, with a median home price of $80,630, the assessed value serves as the basis for the tax calculation. The property tax rate is then applied to this assessed value to determine your annual tax bill. Several factors influence the final tax bill, including the local tax rate, property exemptions, and any applicable deductions. Homeowners in Lumberton can expect tax bills that vary significantly; the 25th percentile tax bill is around $182, while the 75th percentile reaches $631. The highest median tax bill recorded in the area is $317, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, emergency services, and infrastructure projects, directly impacting the quality of life for residents. Understanding how these taxes are calculated can help homeowners better manage their financial planning and obligations.
Average Lumberton Tax Bill
$317
Average Marion County Tax Bill
$627
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Lumberton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39455 | $133 | $182 | $317 | $631 | $1,002 |
Source: Ownwell