Decatur, Mississippi Property Taxes
The median property tax rate in Decatur, MS is 1.05%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Decatur at $72,825, the typical annual property tax bill amounts to $791, which is significantly below the national median of $2,690. Property taxes in Decatur are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Decatur's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Decatur or another part of Newton County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Decatur, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$765
$710
Ownwell’s Decatur Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Decatur. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Decatur to provide an accurate property tax bill estimate. This tool offers a clear understanding of potential tax liabilities, helping you plan your finances better. For those interested in more localized insights, additional neighborhood-level information is available below. Your property’s assessed value, determined by Newton County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Decatur, Mississippi
Property taxes in Decatur, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Decatur is 1.05%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Decatur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Decatur 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 Decatur's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39327 zip code has the highest median property tax rate of 1.05%, while the 39327 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Decatur provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Decatur Tax Rate
1.05%
Average Newton County Tax Rate
1.13%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Decatur, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39327 | 0.43% | 0.79% | 1.05% | 1.78% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Decatur, Mississippi
In Decatur, 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 Newton 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 Decatur, 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 Decatur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Decatur is $791.00 in the 39327 zip code, which is also the lowest.
Average Decatur Assessed Value
$72,825
Average Newton County Assessed Value
$57,610
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Decatur, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39327 | $16,122 | $38,405 | $72,825 | $119,818 | $190,410 |
Source: Ownwell
Property Tax Bills Across Decatur, Mississippi
In Decatur, located in Newton County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Decatur typically see property tax bills that vary significantly, with the 25th percentile tax bill at $356 and the 75th percentile reaching $1,453. The 90th percentile tax bill can go up to $2,330, indicating that higher-valued properties face a steeper tax burden. The median home price in Decatur is $72,825, and the property tax rate is influenced by this valuation. Compared to the national median property tax rate of 0.99%, Decatur’s rates reflect the local economic conditions and property values. Homeowners must consider these taxes as part of their annual expenses, which can impact their overall financial planning. Managing these costs effectively is crucial for maintaining homeownership affordability in the area.
Average Decatur Tax Bill
$791
Average Newton County Tax Bill
$665
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Decatur, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39327 | $160 | $356 | $791 | $1,453 | $2,330 |
Source: Ownwell