Blue Springs, Mississippi Property Taxes
The median property tax rate in Blue Springs, MS is 1.08%, which is higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $94,575 in Blue Springs, the typical annual property tax bill amounts to $1,093, which is below the national median of $2,690. Property taxes in Blue Springs are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Blue Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you reside in the heart of Blue Springs or another part of the city, being informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blue Springs, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$1,021
Ownwell’s Blue Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blue Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blue Springs 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 Blue Springs, Mississippi
Property taxes in Blue Springs, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blue Springs is 1.08%, significantly higher than the U.S. national median of 0.99%. Local government entities within Blue Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blue Springs 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 Blue Springs' effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38828 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Blue Springs provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blue Springs Tax Rate
1.08%
Average Lee County Tax Rate
1.34%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blue Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38828 | 1.07% | 1.07% | 1.08% | 1.12% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Blue Springs, Mississippi
In Blue Springs, 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 Lee 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 Blue Springs, 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 highest median tax bill in Blue Springs is $1093 in the 38828 zip code, while the lowest median tax bill is also $1093 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Blue Springs, Mississippi
Source: Ownwell
$50,820
$101,010
$151,200
Average Blue Springs Assessed Value
$94,575
Average Lee County Assessed Value
$101,000
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blue Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38828 | $45,800 | $58,952 | $94,575 | $163,150 | $250,470 |
Source: Ownwell
Property Tax Bills Across Blue Springs, Mississippi
In Blue Springs, MS, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. For instance, with a median home price of $94,575, the assessed value is calculated to determine the tax bill. Various factors influence this assessed value, including the property's location, size, and condition. Homeowners in Blue Springs can expect their tax bills to vary significantly. The 25th percentile tax bill is around $738, while the 75th percentile tax bill reaches $1,756. At the higher end, the 90th percentile tax bill is approximately $2,702. These figures show that tax bills can differ widely based on individual property assessments. Compared to the national median property tax rate of 0.99%, homeowners in Blue Springs experience a range of tax bills that reflect the diverse property values within the area. This variation directly impacts homeowners' annual expenses and should be considered when budgeting for homeownership.
Average Blue Springs Tax Bill
$1,093
Average Lee County Tax Bill
$1,408
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Blue Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38828 | $584 | $738 | $1,093 | $1,756 | $2,702 |
Source: Ownwell