38629 Property Tax Rate

Property owners in ZIP code 38629 (Falkner, Mississippi) pay a median of $735/year in property taxes on homes valued at $119,300. This translates to an effective tax rate of 0.62%, which is 16% below the Mississippi state average of 0.73%.

The monthly property tax burden for a median-valued home in 38629 is approximately $61, which factors into escrow payments on mortgages. This ZIP code is located within Tippah County.

Compared to similar ZIP codes in Mississippi, 38629 has higher property taxes. ZIP codes with similar effective rates include 39705 (0.62%) and 38601 (0.62%).

In Falkner, property taxes represent approximately 1.1% of the median household income of $64,087, providing context for the relative tax burden on homeowners in this area.

Mississippi reassesses property at fair market value upon transfer; the Tippah County assessor will establish a new appraised value from your purchase price. The $7,500 Homestead Exemption is available to all owner-occupied primary residences in Mississippi and typically applies automatically — contact the Tippah County Assessor to confirm your homestead exemption is registered and will appear on your first assessment. File any exemption application within 30 days of closing.