Burnsville, Mississippi Property Taxes
The median property tax rate in Burnsville, Mississippi is 0.88%, which is notably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Burnsville being $39,640, the typical annual property tax bill amounts to $311, significantly less than the national median of $2,690. Property taxes in Burnsville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Burnsville's property tax system, exploring available exemptions, and identifying opportunities for reductions, residents can achieve substantial annual savings. Whether you're in the heart of Burnsville or another part of Alcorn County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burnsville, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$349
$324
Ownwell’s Burnsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burnsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burnsville 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 Burnsville, Mississippi
Property taxes in Burnsville, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnsville is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Burnsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnsville 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 Burnsville's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38833 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Burnsville provides valuable insights into the varying tax landscape across Alcorn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnsville Tax Rate
0.88%
Average Alcorn County Tax Rate
0.82%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnsville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38833 | 0.26% | 0.75% | 0.88% | 1.74% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Burnsville, Mississippi
In Burnsville, 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 Alcorn 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 Burnsville, 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. The median home price in Burnsville is $39,640, with property tax bills ranging from $142 at the 25th percentile to $1,223 at the 90th percentile. The highest median tax bill is $311 in the 38833 zip code, which also has the lowest median tax bill at $311. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for appealing assessments or applying for exemptions to effectively manage the tax burden.
Average Burnsville Assessed Value
$39,640
Average Alcorn County Assessed Value
$54,430
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnsville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38833 | $5,562 | $14,520 | $39,640 | $83,400 | $126,260 |
Source: Ownwell
Property Tax Bills Across Burnsville, Mississippi
In Burnsville, located in Alcorn County, MS, property tax bills are calculated using the assessed value of a home and the applicable tax rate. The assessed value is a percentage of the home's market value, which is determined by local tax authorities. Various factors such as the home's age, size, location, and recent sale prices of similar properties in the area influence this market value. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $39,640, homeowners in Burnsville can expect their property tax bill to vary significantly. At the 25th percentile, tax bills are around $142, whereas at the 75th percentile, they can reach up to $815. The highest median tax bill in the area is $311. This variability affects homeowners differently, impacting their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, Burnsville's rates offer a unique perspective on property taxation in this region.
Average Burnsville Tax Bill
$311
Average Alcorn County Tax Bill
$422
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnsville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38833 | $66 | $142 | $311 | $815 | $1,223 |
Source: Ownwell