Biloxi, Mississippi Property Taxes
The median property tax rate in Biloxi, MS is 1.04%, which is slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Biloxi at $89,328, the typical annual property tax bill amounts to $1,140, which is below the national median of $2,690. Property taxes in Biloxi are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Biloxi's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Biloxi 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
Biloxi, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$929
Ownwell’s Biloxi Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Biloxi with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Biloxi to predict your property tax bill. This tool provides an insightful glimpse into your potential tax liabilities, helping you make more informed financial decisions. For those interested in more detailed trends at a neighborhood level, additional localized information is available. Your property’s assessed value, determined by Jackson County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Biloxi, Mississippi
Property taxes in Biloxi, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Biloxi is 0.65%, lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Biloxi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Biloxi 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 Biloxi's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39532 zip code has the highest median property tax rate of 0.65%, while the 39532 zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Biloxi 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 Biloxi Tax Rate
1.04%
Average Jackson County Tax Rate
1.16%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Biloxi, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39532 | 0.43% | 0.81% | 1.04% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Biloxi, Mississippi
In Biloxi, 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. In Biloxi, 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 Biloxi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Biloxi is $1,140 in the 39532 zip code, which is also the lowest median tax bill, reflecting the uniformity in property tax assessments in the area.
Average Biloxi Assessed Value
$89,328
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 Biloxi, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39532 | $59,648 | $70,237 | $89,328 | $138,348 | $220,289 |
Source: Ownwell
Property Tax Bills Across Biloxi, Mississippi
In Biloxi, property tax bills are calculated based on the assessed value of a home, which is determined by the Jackson County Assessor's Office. The assessed value is typically a percentage of the home's market value. Factors such as the property's location, size, and any improvements or renovations can influence this assessed value. Homeowners in Biloxi face varying tax bills depending on these assessments. For example, the median home price in Biloxi is $89,328. Property tax bills can range significantly, with those in the 25th percentile paying around $618, while those in the 75th percentile face bills up to $1,680. The most substantial tax bills, in the 90th percentile, can reach $2,620. These property tax bills directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Biloxi's property tax rates can vary widely, reflecting the diverse property values within the city.
Average Biloxi Tax Bill
$1,140
Average Jackson County Tax Bill
$1,144
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Biloxi, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39532 | $362 | $618 | $1,140 | $1,680 | $2,620 |
Source: Ownwell