Lumberton, Mississippi Property Taxes
The median property tax rate in Lumberton, MS is 1.30%, slightly below the Mississippi state median of 1.31% but higher than the national median of 0.99%. With the median home value in Lumberton at $52,656, the typical annual property tax bill is $720, which is significantly lower than 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, such as those for primary residences and agricultural properties. Understanding Lumberton'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 Lumberton or another part of the city, familiarizing yourself with 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
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$685
$635
Ownwell’s Lumberton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to 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 project your property tax bill. This invaluable tool helps you grasp potential tax liabilities effortlessly. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lumberton, Mississippi
Property taxes in Lumberton, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lumberton is 0.79%, which is lower than both the Mississippi state median of 0.81% and 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 39455 zip code has the highest median property tax rate of 1.30%, while the 39455 zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Lumberton provides valuable insights into the varying tax landscape across Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lumberton Tax Rate
1.30%
Average Stone County Tax Rate
1.32%
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 | 0.76% | 1.05% | 1.30% | 2.12% | 2.12% |
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 Stone 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. For instance, the median home price in Lumberton is $52,656, with tax bills ranging from $263 at the 25th percentile to $1,896 at the 90th percentile. The highest median tax bill is $720 in zip code 39455, which also has the lowest median tax bill. By understanding 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.
Average Lumberton Assessed Value
$52,656
Average Stone County Assessed Value
$56,928
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 | $9,943 | $19,324 | $52,656 | $90,843 | $135,100 |
Source: Ownwell
Property Tax Bills Across Lumberton, Mississippi
In Lumberton, Stone 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 property's market value, and this figure is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $52,656, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $263, while at the 75th percentile, it rises to $1,358. The 90th percentile sees a tax bill of approximately $1,896. These figures are influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Lumberton's tax rates can be seen as relatively moderate. For homeowners, these taxes fund essential local services, including schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Lumberton Tax Bill
$720
Average Stone County Tax Bill
$722
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 | $132 | $263 | $720 | $1,358 | $1,896 |
Source: Ownwell