Crystal Springs, Mississippi Property Taxes
The median property tax rate in Crystal 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 a median home value of $49,800 in Crystal Springs, the typical annual property tax bill is around $506, significantly below the national median of $2,690. Property taxes in Crystal Springs are calculated based on the assessed value rather than the market value, often reduced by exemptions such as those for primary residences and agricultural land. Understanding the local property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Crystal 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
Crystal Springs, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$588
$545
Ownwell’s Crystal Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crystal Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crystal 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 Crystal Springs, Mississippi
Property taxes in Crystal 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 Crystal Springs is 0.65%, significantly lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Crystal Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crystal 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 Crystal Springs' effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39059 zip code has the highest median property tax rate of 0.85%, while the 39059 zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Crystal Springs provides valuable insights into the varying tax landscape across Hinds County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crystal Springs Tax Rate
1.18%
Average Hinds County Tax Rate
1.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crystal Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39059 | 0.65% | 0.90% | 1.18% | 1.81% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Crystal Springs, Mississippi
In Crystal 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 Hinds 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 Crystal 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 Crystal Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 39059 has both the highest and lowest median tax bills, each valued at $506.
Property Tax Assessment Values Across Crystal Springs, Mississippi
Source: Ownwell
$12,000
$95,370
$178,740
Average Crystal Springs Assessed Value
$49,800
Average Hinds County Assessed Value
$63,595
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crystal Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39059 | $17,080 | $26,550 | $49,800 | $94,880 | $164,260 |
Source: Ownwell
Property Tax Bills Across Crystal Springs, Mississippi
Property tax bills in Crystal Springs, located in Hinds County, MS, are determined by assessing the value of a property and applying the local tax rate. The assessed value is typically a percentage of the property's market value. For example, if the median home price is $49,800, the assessed value will be a fraction of this amount, based on the state's assessment ratio. The local tax rate is then applied to this assessed value to calculate the tax bill. In Crystal Springs, the tax bills vary significantly, with the 25th percentile at $294 and the 75th percentile at $987. The highest tax bills can reach up to $1,912, indicating a wide range in property values and tax obligations within the city. These property taxes fund essential services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial as property taxes represent a significant portion of homeownership costs. Compared to the national median property tax rate of 0.99%, Crystal Springs' tax rates provide a unique perspective on local taxation and its impact on residents.
Average Crystal Springs Tax Bill
$506
Average Hinds County Tax Bill
$1,076
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Crystal Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39059 | $156 | $294 | $506 | $987 | $1,912 |
Source: Ownwell