Tishomingo County, Mississippi Property Taxes
The median property tax rate in Tishomingo County is 0.89%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $60,500 in Tishomingo County, the typical annual property tax bill amounts to $531, significantly less than the national median of $2,690. Property taxes in Tishomingo County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Tishomingo County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Iuka or another part of Tishomingo County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tishomingo County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$538
$500
Ownwell’s Tishomingo County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Tishomingo County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Tishomingo County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Tishomingo County, Mississippi
Property taxes in Tishomingo County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Tishomingo County is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Tishomingo County set these rates annually, and they can vary significantly between different areas within the county. Each year, Tishomingo County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Tishomingo County's effective property tax rate with other counties in Mississippi and the national median. For comparison, the city of Iuka has one of the higher property tax rates in Mississippi at 1.04%, while the city of Glen boasts one of the lowest at 0.70%. Analyzing how Tishomingo County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Tishomingo County Tax Rate
0.89%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tishomingo County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belmont | 0.42% | 0.60% | 0.76% | 1.50% | 1.50% |
| Burnsville | 0.48% | 0.62% | 0.85% | 1.53% | 1.86% |
| Corinth | N/A | N/A | N/A | N/A | N/A |
| Dennis | 0.45% | 0.61% | 0.76% | 1.53% | 1.53% |
| Glen | 0.25% | 0.61% | 0.70% | 0.96% | 1.53% |
| Golden | 0.39% | 0.62% | 0.85% | 1.53% | 1.88% |
| Iuka | 0.33% | 0.61% | 1.04% | 1.53% | 1.53% |
| Tishomingo | 0.39% | 0.61% | 0.77% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Tishomingo County, Mississippi
In Tishomingo County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Tishomingo County Appraisal District. The assessed value, however, 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. Assessment notices in Tishomingo County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the highest median tax bill in the county is $627 in Iuka, while the lowest is $219 in Corinth. Being aware of these valuation processes in Tishomingo County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Tishomingo County, Mississippi
Source: Ownwell
$46,970
$58,758
$70,545
Average Tishomingo County Assessed Value
$60,500
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tishomingo County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belmont | $24,655 | $38,840 | $57,050 | $87,098 | $141,390 |
| Burnsville | $12,561 | $26,802 | $49,470 | $71,568 | $100,309 |
| Corinth | N/A | N/A | N/A | N/A | N/A |
| Dennis | $14,658 | $32,080 | $50,310 | $77,960 | $122,880 |
| Glen | $27,866 | $40,172 | $66,555 | $99,905 | $140,310 |
| Golden | $15,234 | $36,790 | $56,530 | $91,240 | $155,852 |
| Iuka | $18,360 | $40,550 | $70,545 | $114,270 | $190,325 |
| Tishomingo | $13,056 | $26,368 | $46,970 | $72,100 | $106,533 |
Source: Ownwell
Property Tax Bills Across Tishomingo County, Mississippi
In Tishomingo County, MS, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $286, while those at the 75th percentile can reach up to $1,029. At the 90th percentile, the tax bill can be as high as $1,878. The median home price in Tishomingo County is $60,500, which influences the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, the property taxes in this county can be considered relatively moderate. Homeowners in Iuka face the highest median tax bill at $627, while those in Corinth enjoy the lowest at $219. These variations impact homeowners differently, affecting their annual financial planning and overall cost of homeownership.
Average Tishomingo County Tax Bill
$531
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Tishomingo County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belmont | $160 | $305 | $485 | $819 | $1,225 |
| Burnsville | $114 | $217 | $413 | $716 | $1,201 |
| Corinth | N/A | N/A | N/A | N/A | N/A |
| Dennis | $123 | $244 | $407 | $723 | $1,078 |
| Glen | $146 | $246 | $480 | $828 | $1,425 |
| Golden | $139 | $305 | $503 | $915 | $1,739 |
| Iuka | $143 | $314 | $627 | $1,335 | $2,429 |
| Tishomingo | $117 | $213 | $398 | $661 | $1,014 |
Source: Ownwell