Dundee, Mississippi Property Taxes
The median property tax rate in Dundee, MS is 1.21%, which is higher than the national median of 0.99% but slightly lower than the Mississippi state median of 1.31%. With a median home value of $40,406 in Dundee, the typical annual property tax bill amounts to $487, falling below the national median of $2,690. Property taxes in Dundee are calculated based on the assessed value, often less than the market value due to exemptions like those for primary residences and agricultural land. Understanding Dundee'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 Dundee or another part of Tunica County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dundee, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$489
Ownwell’s Dundee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dundee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dundee 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 Dundee, Mississippi
Property taxes in Dundee, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dundee is 1.21%, significantly higher than the U.S. national median of 0.99%. Local government entities within Dundee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dundee 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 Dundee's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38626 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these areas compare with Dundee provides valuable insights into the varying tax landscape across Tunica County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dundee Tax Rate
1.21%
Average Tunica County Tax Rate
1.21%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dundee, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38626 | 0.78% | 0.85% | 1.21% | 1.81% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Dundee, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dundee, Mississippi. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Tunica County Assessor 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 Dundee, 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 median home price in Dundee is $40,406, with tax bills ranging from $215 at the 25th percentile to $3,032 at the 90th percentile. The zip code 38626 has both the highest and lowest median tax bill at $487. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dundee Assessed Value
$40,406
Average Tunica County Assessed Value
$52,396
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dundee, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38626 | $7,808 | $19,843 | $40,406 | $97,997 | $217,651 |
Source: Ownwell
Property Tax Bills Across Dundee, Mississippi
In Dundee, located in Tunica County, MS, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value. Homeowners in Dundee experience varying tax bills, influenced by factors such as property size, location, and market conditions. For instance, the median home price in Dundee is $40,406. The property tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in the 25th percentile pay around $215, while those in the 75th percentile face bills closer to $1,259. At the higher end, the 90th percentile sees tax bills reaching up to $3,032. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. When compared to the national median property tax rate of 0.99%, Dundee's tax rates reflect the local economic conditions, providing a unique landscape for property owners in the area.
Average Dundee Tax Bill
$487
Average Tunica County Tax Bill
$625
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Dundee, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38626 | $91 | $215 | $487 | $1,259 | $3,032 |
Source: Ownwell