Ocean Springs, Mississippi Property Taxes
The median property tax rate in Ocean Springs, MS is 1.18%, which is higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Ocean Springs, the typical annual property tax bill reaches $1,611, which is below the national median of $2,690. Property taxes in Ocean Springs are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ocean Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ocean Springs or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ocean Springs, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$1,496
Ownwell’s Ocean Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ocean Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ocean 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 Ocean Springs, Mississippi
Property taxes in Ocean 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 Ocean Springs is 0.52%, which is significantly lower than both the Mississippi state median of 0.65% and the U.S. national median of 0.99%. Local government entities within Ocean Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ocean 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 Ocean Springs' effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39565 zip code has the highest median property tax rate of 0.88%, while the 39564 zip code has the lowest median tax rate of 0.52%. Understanding how these cities compare with Ocean Springs provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ocean Springs Tax Rate
1.18%
Average Jackson County Tax Rate
1.16%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ocean Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39564 | 0.48% | 0.93% | 1.18% | 1.85% | 2.18% |
| 39565 | 1.83% | 1.85% | 1.88% | 1.91% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Ocean Springs, Mississippi
In Ocean 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 Jackson 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. 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 Ocean Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $1,611 in zip code 39564, while the lowest is $591 in zip code 39565.
Property Tax Assessment Values Across Ocean Springs, Mississippi
Source: Ownwell
$31,880
$79,314
$126,748
Average Ocean Springs Assessed Value
$126,739
Average Jackson County Assessed Value
$94,879
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ocean Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39564 | $71,494 | $92,413 | $126,748 | $182,988 | $265,029 |
| 39565 | $21,349 | $25,298 | $31,880 | $38,462 | $42,411 |
Source: Ownwell
Property Tax Bills Across Ocean Springs, Mississippi
Property tax bills in Ocean Springs, located in Jackson County, MS, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate, which is applied to this assessed value, determines the final tax bill. In Ocean Springs, the median home price is $126,739. Homeowners in this area can expect their tax bills to vary significantly, with the 25th percentile tax bill around $977 and the 75th percentile reaching up to $2,480. At the higher end, the 90th percentile tax bill can be as much as $3,730. Several factors influence these tax bills, including the property's location, size, and condition. For example, the highest median tax bill in the region is $1,611 in the 39564 zip code, while the lowest is $591 in the 39565 zip code. These property taxes directly impact homeowners by influencing their monthly mortgage payments and overall housing affordability. Compared to the national median property tax rate of 0.99%, Ocean Springs' tax rates offer a varied landscape for property owners.
Average Ocean Springs Tax Bill
$1,611
Average Jackson County Tax Bill
$1,144
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Ocean Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39564 | $503 | $978 | $1,611 | $2,480 | $3,730 |
| 39565 | $409 | $477 | $591 | $705 | $774 |
Source: Ownwell