Dumas, Mississippi Property Taxes
The median property tax rate in Dumas, Mississippi is 1.21%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Dumas at $45,330, the typical annual property tax bill is $583, which is significantly below 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. Navigating Dumas's property tax system, leveraging available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Dumas or elsewhere in Union County, understanding the local property tax system is advantageous for 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
1.21%
Estimate Property Tax Bill
$548
$509
Ownwell’s Dumas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dumas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dumas 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 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 1.21%, 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. For comparison, the 38625 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 cities compare with Dumas provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dumas Tax Rate
1.21%
Average Union County Tax Rate
1.14%
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 | 0.64% | 0.88% | 1.21% | 1.93% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Dumas, Mississippi
In Dumas, Mississippi, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 local 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. 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 Dumas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38625 has the highest and lowest median tax bill at $583.00, reflecting the varied tax landscape within the region.
Average Dumas Assessed Value
$45,330
Average Union County Assessed Value
$62,900
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 | $8,210 | $19,145 | $45,330 | $76,640 | $130,240 |
Source: Ownwell
Property Tax Bills Across Dumas, Mississippi
In Dumas, Union County, MS, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is a percentage of the property's market value. Homeowners in Dumas can expect their property tax bill to vary widely. For instance, the 25th percentile tax bill is $229, while the 75th percentile tax bill reaches $937. At the 90th percentile, the tax bill can be as high as $1,688. The median home price in Dumas is $45,330, which is relatively low compared to national figures. This lower market value contributes to the overall property tax bill. Despite the variance, the highest and lowest median tax bill in the area is consistent at $583.00, according to recent data from the zip code 38625. These tax bills are crucial as they directly impact homeowners' annual expenses, influencing their financial planning and the affordability of homeownership in the region.
Average Dumas Tax Bill
$583
Average Union County Tax Bill
$664
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 | $107 | $229 | $583 | $937 | $1,688 |
Source: Ownwell