Blue Springs, Mississippi Property Taxes
The median property tax rate in Blue Springs, MS is 0.92%, slightly below the national median of 0.99% and significantly lower than the Mississippi state median of 1.31%. With the median home value in Blue Springs at $55,380, the typical annual property tax bill is $481, which is considerably less than the national median of $2,690. Property taxes in Blue Springs are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Blue 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 Blue Springs or another part of Union County, understanding 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
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
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 0.92%, which is lower 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 zip code 38828 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these areas compare with Blue Springs 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 Blue Springs Tax Rate
0.92%
Average Union County Tax Rate
1.14%
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 | 0.49% | 0.66% | 0.92% | 1.57% | 1.60% |
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 Union 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. Being aware of these valuation processes in Blue Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 38828 has the highest and lowest median tax bill of $481.
Average Blue Springs Assessed Value
$55,380
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 Blue Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38828 | $9,240 | $19,970 | $55,380 | $103,365 | $165,440 |
Source: Ownwell
Property Tax Bills Across Blue Springs, Mississippi
In Blue Springs, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Factors such as property size, location, and condition influence this assessment. Homeowners in Blue Springs face varying tax bills depending on these assessments. The median home price in Blue Springs is $55,380, with property tax bills ranging significantly. For instance, the 25th percentile tax bill is $210, while the 75th percentile tax bill is $1,015, and those in the 90th percentile see bills as high as $1,647. The median property tax bill stands at $481, which is below the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. Consequently, while property taxes in Blue Springs are relatively modest compared to national figures, they play a crucial role in maintaining community services and amenities.
Average Blue Springs Tax Bill
$481
Average Union County Tax Bill
$664
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 | $94 | $210 | $481 | $1,015 | $1,647 |
Source: Ownwell