Star, Mississippi Property Taxes
The median property tax rate in STAR, MS is 0.54%, considerably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in STAR, the typical annual property tax bill reaches $733, significantly below the national median of $2,690. Property taxes in STAR are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding STAR'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 STAR 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
Star, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$294
Ownwell’s STAR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in STAR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in STAR 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 Star, Mississippi
Property taxes in STAR, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in STAR is 0.54%, significantly lower than the U.S. national median of 0.99%. Local government entities within STAR set these rates annually, and they can vary significantly across different neighborhoods. Each year, STAR 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 STAR's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39167 has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with STAR provides valuable insights into the varying tax landscape across Rankin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Star Tax Rate
0.54%
Average Rankin County Tax Rate
0.91%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Star, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39167 | 0.52% | 0.53% | 0.54% | 1.01% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Star, Mississippi
In STAR, 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 Rankin 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 STAR, 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 STAR helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in STAR is found in the 39167 zip code, with a value of $733.
Average Star Assessed Value
$54,390
Average Rankin County Assessed Value
$136,735
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Star, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39167 | $32,555 | $41,375 | $54,390 | $85,270 | $117,675 |
Source: Ownwell
Property Tax Bills Across Star, Mississippi
In STAR, located in Rankin County, MS, property tax bills are calculated based on the assessed value of a homeowner's property. The assessment is determined by local tax assessors who evaluate the property's market value and then apply an assessment ratio to arrive at the assessed value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the property tax bill, including the property's market value, the assessment ratio, and the local tax rate. For instance, the median home price in STAR is $54,390. Homeowners in the 25th percentile of tax bills pay around $497 annually, while those in the 75th percentile pay about $1,063. The tax bill for the 90th percentile reaches approximately $1,262. These property taxes significantly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, STAR's property tax rates can vary, reflecting the local government's funding needs and priorities.
Average Star Tax Bill
$733
Average Rankin County Tax Bill
$1,263
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Star, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39167 | $356 | $497 | $733 | $1,063 | $1,262 |
Source: Ownwell