Tippo, Tallahatchie County, Mississippi Property Taxes

Name: Property Tax Bills Across Tippo, Tallahatchie County, Mississippi
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Tippo, MS effective property tax rate: 0.90%, significantly lower than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median Tippo, MS home value: $48,710
Median annual Tippo, MS tax bill: $526, $1,874 lower than the national median property tax bill of $2,400.

How are property taxes in Tallahatchie calculated?

Property taxes in Tippo, MS are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Tippo’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tippo, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Tippo, Tallahatchie County, Mississippi Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.9%

Estimate Property Tax Bill

$438

$407

Ownwell’s Tippo Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tippo with just two data points. By entering your property's estimated assessed value, our calculator applies Tippo’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Tallahatchie County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Tippo, Tallahatchie County, Mississippi

Local government entities are responsible for setting property tax rates, which can significantly differ across regions within a state. Each year, counties like Tallahatchie in Mississippi estimate their required budget to fund essential services. They then divide this budget by the total value of all taxable properties within their jurisdiction, resulting in the property tax rate. Although the process involves votes and legislation, this annual calculation is the core of how property tax rates are determined.

In Tippo, located in Tallahatchie County, the effective property tax rate can be compared to other cities in Mississippi, as well as the median property tax rates across the state and the nation. Mississippi's median tax rate is slightly below the national median of 1.02%, making it an attractive state for property owners seeking lower tax obligations. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively. By comparing Tippo's rates to those of other regions, property owners can gain valuable insights into potential savings and financial planning strategies.

Property Tax Rates Across Tippo, Tallahatchie County, Mississippi

Source: Ownwell

0.73%

1.32%

1.92%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Tippo Tax Rate

0.90%

Median Effective Tallahatchie County Tax Rate

1.71%

Median Effective Mississippi Tax Rate

1.31%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tippo, Tallahatchie County, Mississippi

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
38962	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Tippo, Tallahatchie County, Mississippi

When examining property taxes in Tippo, Mississippi, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Tallahatchie County Tax Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices:

In Tallahatchie County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Tippo. For example, the median home price in Tippo is $48,710, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Tippo, Tallahatchie County, Mississippi

Source: Ownwell

$35,872

$44,351

$52,830

Median Tippo Market Value

$48,710

Median Tallahatchie County Market Value

$42,376

Median Mississippi Market Value

$68,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tippo, Tallahatchie County, Mississippi

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
38962	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Tippo, Tallahatchie County, Mississippi

In Tippo, located in Tallahatchie County, Mississippi, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as the home's location, size, and any improvements made can influence its assessed value. For homeowners in Tippo, the median property tax bill typically falls between $429 and $730, with higher-end bills reaching up to $853. Compared to the national median property tax bill of $2,400, Tippo's property tax bills are relatively lower, offering some relief to homeowners. However, these taxes can still pose a financial burden. This is where Ownwell can step in to assist. By leveraging their expertise in property tax appeals and exemptions, Ownwell helps homeowners identify potential savings and reduce their tax liabilities. Their services ensure that homeowners in Tippo pay only their fair share, potentially leading to significant savings on property tax bills.

Property Tax Bills Across Tippo, Tallahatchie County, Mississippi

Source: Ownwell

$400

$583

$765

Median Tippo Tax Bill

$526

Median Tallahatchie County Tax Bill

$479

Median Mississippi Tax Bill

$854

Median United States Tax Bill

$2,400

Property Tax Bills Across Tippo, Tallahatchie County, Mississippi

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
38962	N/A	N/A	N/A	N/A	N/A

Source: Ownwell