Lamar, Marshall County, Mississippi Property Taxes
Median Lamar, MS effective property tax rate: 1.72%, significantly higher than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median Lamar, MS home value: $60,880
Median annual Lamar, MS tax bill: $682, $1,718 lower than the national median property tax bill of $2,400.
How are property taxes in Marshall calculated?
Property taxes in Lamar, MS are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lamar’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lamar, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lamar, Marshall County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.72%
Estimate Property Tax Bill
$1,047
$972
Property Tax Rates Across Lamar, Marshall County, Mississippi
Local government entities are responsible for setting tax rates, which can differ significantly within a state. Each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting these rates and budgets, this is the annual process in a nutshell.
In Lamar, located in Marshall County, Mississippi, the effective property tax rate is a reflection of this process. Mississippi's median property tax rate is 1.72%, which is considerably higher than the national median of 1.02%. This places a substantial burden on property owners compared to other states. The highest and lowest median tax rates in Mississippi are both found in the same zip code, 38642, with a rate of 1.72%. Comparing Lamar's effective property tax rate to other cities in Mississippi and the U.S. highlights the variance in property tax obligations across different regions. Understanding these differences can help property owners make informed decisions about their property investments and tax liabilities.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lamar Tax Rate
1.72%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Marshall County Tax Rate
1.72%
Median Effective Mississippi Tax Rate
1.31%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lamar, Marshall County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38642 | 0.56% | 0.79% | 1.72% | 1.72% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Lamar, Marshall County, Mississippi
When examining property taxes in Lamar, Mississippi, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Marshall County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Marshall County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lamar. For example, the median home price in Lamar is $60,880, with tax bills ranging significantly across the county. Zip code 38642 has the highest median home price at $60,880.
Property Tax Assessment Values Across Lamar, Marshall County, Mississippi
Source: Ownwell
$31,190
$49,310
$67,430
Median Lamar Market Value
$60,880
Median Marshall County Market Value
$56,450
Median Mississippi Market Value
$68,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lamar, Marshall County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38642 | $9,100 | $31,700 | $60,880 | $116,750 | $268,088 |
Source: Ownwell
Property Tax Bills Across Lamar, Marshall County, Mississippi
Median Lamar Tax Bill
$682
Median Marshall County Tax Bill
$600
Median Mississippi Tax Bill
$854
Median United States Tax Bill
$2,400
Property Tax Bills Across Lamar, Marshall County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38642 | $108 | $307 | $682 | $1,447 | $2,812 |
Source: Ownwell