Union, Neshoba County, Mississippi Property Taxes
The median property tax rate in Union, MS is 1.10%, slightly above the national median of 0.99% but below the Mississippi state median of 1.31%. With a median home value of $48,910, the typical annual property tax bill in Union reaches $434, which is significantly lower than the national median of $2,690. Property taxes in Union are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Union'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 Union 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
Union, Neshoba County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$538
$499
Ownwell’s Union Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Union with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Union 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 Union, Neshoba County, Mississippi
Property taxes in Union, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union is 0.87%, which is lower than both the Mississippi state median of 0.8% and the U.S. national median of 0.99%. Local government entities within Union set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union 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 Union's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39365 has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Union provides valuable insights into the varying tax landscape across Neshoba County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Union Tax Rate
1.10%
Average Neshoba County Tax Rate
1.25%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union, Neshoba County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39365 | 0.49% | 0.74% | 1.10% | 1.67% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Union, Neshoba County, Mississippi
In Union, 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 Neshoba 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 Union, 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 Union is $48,910, with tax bills ranging from $165 at the 25th percentile to $1,419 at the 90th percentile. The zip code with the highest and lowest median tax bill is 39365, with a median tax bill of $434. 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 Union helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Union, Neshoba County, Mississippi
Source: Ownwell
$21,405
$40,543
$59,680
Average Union Assessed Value
$48,910
Average Neshoba County Assessed Value
$53,540
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Union, Neshoba County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39365 | $5,464 | $16,750 | $48,910 | $85,860 | $127,908 |
Source: Ownwell
Property Tax Bills Across Union, Neshoba County, Mississippi
In Union, located in Neshoba County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $48,910, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $165 annually, while those in the 75th percentile face a tax bill of approximately $845. The 90th percentile sees even higher tax bills, reaching up to $1,419. This tax structure means that homeowners with higher-valued properties or those in more desirable areas may face substantially higher tax bills. Compared to the national median property tax rate of 0.99%, Union's rates reflect the local economic conditions and property values. Understanding these factors is essential for homeowners when budgeting for annual expenses and planning long-term financial commitments.
Average Union Tax Bill
$434
Average Neshoba County Tax Bill
$527
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Union, Neshoba County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39365 | $56 | $165 | $434 | $845 | $1,419 |
Source: Ownwell