Dennis, Mississippi Property Taxes
The median property tax rate in Dennis, MS is 0.76%, considerably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Dennis, the typical annual property tax bill reaches $407, significantly below the national median of $2,690. Property taxes in Dennis are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dennis'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 Dennis 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
Dennis, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$382
$355
Ownwell’s Dennis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dennis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dennis 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 Dennis, Mississippi
Property taxes in Dennis, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dennis is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Dennis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dennis 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 Dennis's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38838 zip code has the highest median property tax rate of 0.76%, while the 38838 zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Dennis provides valuable insights into the varying tax landscape across Tishomingo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dennis Tax Rate
0.76%
Average Tishomingo County Tax Rate
0.89%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dennis, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38838 | 0.45% | 0.61% | 0.76% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Dennis, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dennis, 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 Tishomingo 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 Dennis, 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. Being aware of these valuation processes in Dennis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Dennis, the median home price is $50,310. The highest and lowest median tax bills are both $407.00, found in zip code 38838. The 25th percentile tax bill is $244, while the 75th percentile tax bill is $723, and the 90th percentile tax bill is $1,078.
Average Dennis Assessed Value
$50,310
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 Dennis, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38838 | $14,658 | $32,080 | $50,310 | $77,960 | $122,880 |
Source: Ownwell
Property Tax Bills Across Dennis, Mississippi
In Dennis, located in Tishomingo County, MS, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor's office. The assessed value is typically a percentage of the market value of the property. For example, if the median home price in Dennis is $50,310, the assessed value would be a fraction of that amount. The property tax rate is then applied to this assessed value to calculate the annual tax bill. In Dennis, the tax bills can vary significantly, with the 25th percentile at $244 and the 75th percentile at $723. The 90th percentile tax bill can go up to $1,078, indicating a wide range of tax burdens based on property values and other factors. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in Dennis should be aware of how their property is assessed and the corresponding tax rate, as it directly impacts their annual financial obligations.
Average Dennis Tax Bill
$407
Average Tishomingo County Tax Bill
$531
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Dennis, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38838 | $123 | $244 | $407 | $723 | $1,078 |
Source: Ownwell