Tiplersville, Mississippi Property Taxes
The median property tax rate in Tiplersville, MS is 1.39%, higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Tiplersville at $41,335, the typical annual property tax bill reaches $534, which is significantly lower than the national median of $2,690. Property taxes in Tiplersville 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 Tiplersville'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 Tiplersville or another part of Tippah County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tiplersville, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$575
$533
Ownwell’s Tiplersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tiplersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tiplersville 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 Tiplersville, Mississippi
Property taxes in Tiplersville, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tiplersville is 1.39%, significantly higher than the U.S. national median of 0.99%. Local government entities within Tiplersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tiplersville 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 Tiplersville's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38674 zip code has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these areas compare with Tiplersville 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 Tiplersville Tax Rate
1.39%
Average Tippah County Tax Rate
1.38%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tiplersville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38674 | 0.42% | 1.09% | 1.39% | 2.27% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Tiplersville, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tiplersville, 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 Tiplersville, 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. For instance, the highest median tax bill in the area is $534, found in zip code 38674. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tiplersville Assessed Value
$41,335
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 Tiplersville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38674 | $8,080 | $21,000 | $41,335 | $65,620 | $95,215 |
Source: Ownwell
Property Tax Bills Across Tiplersville, Mississippi
In Tiplersville, Tippah County, MS, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property location, market conditions, and any applicable exemptions influence the assessed value. For homeowners in Tiplersville, the median home price is $41,335. Property taxes can vary widely, with the 25th percentile tax bill at $239 and the 75th percentile reaching $933. At the 90th percentile, homeowners might see tax bills as high as $1,454. The highest median tax bill in the area is $534, found in the 38674 zip code. These property taxes impact homeowners by affecting their annual expenses and potentially influencing their decisions to buy or sell property. Compared to the national median property tax rate of 0.99%, Tiplersville's property tax rates can be a significant factor in the overall cost of homeownership.
Average Tiplersville Tax Bill
$534
Average Tippah County Tax Bill
$673
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Tiplersville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38674 | $101 | $239 | $534 | $933 | $1,454 |
Source: Ownwell