Como, Tate County, Mississippi Property Taxes
The median property tax rate in Como, Mississippi is 1.28%, slightly higher than the national median of 0.99% but just below the Mississippi state median of 1.31%. With a median home value of $57,944 in Como, the typical annual property tax bill is $712, which is significantly lower than the national median of $2,690. Property taxes in Como are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural use. Familiarizing yourself with Como'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 Como or another part of Tate County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Como, Tate County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$742
$688
Ownwell’s COMO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in COMO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in COMO 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 Como, Tate County, Mississippi
Property taxes in Como, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Como is 1.28%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Como set these rates annually, and they can vary significantly across different neighborhoods. Each year, Como 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 Como's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38619 zip code has both the highest and lowest median property tax rate of 1.28%. Understanding how these areas compare with Como provides valuable insights into the varying tax landscape across Tate County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Como Tax Rate
1.28%
Average Tate County Tax Rate
1.33%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Como, Tate County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38619 | 0.90% | 0.97% | 1.28% | 1.51% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Como, Tate County, Mississippi
In COMO, 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 Tate 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 COMO, 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. The median home price in COMO is $57,944, and the median tax bill varies significantly, with the 25th percentile at $426 and the 90th percentile reaching $1,801. The zip code with the highest and lowest median tax bill is 38619, both at $712. Being aware of these valuation processes in COMO helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Como, Tate County, Mississippi
Source: Ownwell
$57,944
$76,743
$95,541
Average Como Assessed Value
$57,944
Average Tate County Assessed Value
$82,683
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Como, Tate County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38619 | $22,494 | $35,888 | $57,944 | $104,028 | $133,780 |
Source: Ownwell
Property Tax Bills Across Como, Tate County, Mississippi
In Como, Tate County, MS, property tax bills are determined based on the assessed value of a home. The assessed value is typically a percentage of the property's market value, which is then multiplied by the local tax rate. For homeowners in Como, the median home price is $57,944. Property tax bills can vary significantly, with the 25th percentile at $426 and the 75th percentile reaching $1,178. The 90th percentile tax bill can be as high as $1,801. Several factors influence the final tax bill, including the home's assessed value, any applicable exemptions, and the local tax rate. These elements collectively determine how much a homeowner will pay annually. Property taxes are a crucial source of revenue for local services such as schools, infrastructure, and public safety, directly impacting the community's quality of life. Understanding these factors helps homeowners anticipate their financial obligations and budget accordingly.
Average Como Tax Bill
$712
Average Tate County Tax Bill
$994
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Como, Tate County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38619 | $260 | $426 | $712 | $1,178 | $1,801 |
Source: Ownwell