Quitman County, Mississippi Property Taxes

Local government entities determine tax rates, which can differ significantly within a state. Each year, counties estimate their required budget to provide services and divide this by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the annual process in simple terms.

For instance, Quitman County in Mississippi has an effective property tax rate that stands out when compared to other counties in the state and even against the national median property tax rate of 1.02%. Quitman County's median tax rate of 2.58% is notably higher than the national median, indicating a heavier tax burden on property owners in this region. The highest median tax rate in Quitman County is found in Crowder at 3.25%, while Vance shares the county's median rate of 2.58%. This comparison highlights the variability in tax rates even within a single county, reflecting the diverse fiscal needs and property values across different areas.

In Quitman County, Mississippi, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, and this figure is then multiplied by the county's property tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions can influence the assessed value, affecting the overall tax obligation for homeowners.

In Quitman County, the median home price stands at $32,455, resulting in a range of tax bills. The 25th percentile tax bill is $187, while the 75th percentile reaches $1,652, and the 90th percentile hits $3,157. This variation highlights how different property values and tax rates impact homeowners differently, with some paying significantly higher or lower amounts. For instance, Vance boasts the highest median tax bill at $2,678, while Crowder has the lowest at $398. Understanding these dynamics is crucial for homeowners to anticipate their financial responsibilities and budget accordingly.