Dumas, Mississippi Property Taxes
The median property tax rate in Dumas, MS is 1.29%, slightly higher than the national median of 0.99% but just below the Mississippi state median of 1.31%. With the median home value in Dumas at $49,310, the typical annual property tax bill amounts to $646, which is significantly lower than the national median of $2,690. Property taxes in Dumas are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Dumas's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Dumas or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dumas, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$636
$590
Ownwell’s Dumas Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dumas with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dumas to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed trends on a neighborhood level, additional localized information is available as you scroll down. Your property’s assessed value is the amount determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Dumas, Mississippi
Property taxes in Dumas, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dumas is 1.29%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Dumas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dumas 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 Dumas's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 38625 has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Dumas provides valuable insights into the varying tax landscape across Tippah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dumas Tax Rate
1.29%
Average Tippah County Tax Rate
1.38%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dumas, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38625 | 0.68% | 1.13% | 1.29% | 2.31% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Dumas, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dumas, Mississippi. 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 Tippah 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 Dumas, 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. With a median home price of $49,310, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $325, while the 75th percentile reaches $1,120, and the 90th percentile is $1,508. Interestingly, the highest and lowest median tax bills are both $646 in the 38625 zip code. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dumas Assessed Value
$49,310
Average Tippah County Assessed Value
$46,380
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dumas, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38625 | $11,490 | $26,430 | $49,310 | $81,715 | $116,096 |
Source: Ownwell
Property Tax Bills Across Dumas, Mississippi
In Dumas, Tippah County, MS, property tax bills are calculated based on the assessed value of a home. The median home price in Dumas is $49,310, and the property tax rate is determined by local taxing authorities. Homeowners in Dumas can expect a range of tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $325, while the 75th percentile tax bill reaches $1,120. At the higher end, the 90th percentile tax bill can be as much as $1,508. Several factors influence the final tax bill, including the property's market value, any applicable exemptions, and local tax rates. The highest and lowest median tax bills in the area are both $646, which is notably lower than the national median property tax rate of 0.99%. These property taxes significantly impact homeowners by affecting their annual expenses and potentially influencing their decisions on property investments and home ownership.
Average Dumas Tax Bill
$646
Average Tippah County Tax Bill
$673
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Dumas, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38625 | $160 | $325 | $646 | $1,120 | $1,508 |
Source: Ownwell