Burnsville, Mississippi Property Taxes
The median property tax rate in Burnsville, MS is 0.85%, 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, the typical annual property tax bill reaches $413, significantly below the national median of $2,690. Property taxes in Burnsville 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 Burnsville'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 Burnsville 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
Burnsville, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$420
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 0.85%, 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 both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Burnsville provides valuable insights into the varying tax landscape across Tishomingo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnsville Tax Rate
0.85%
Average Tishomingo County Tax Rate
0.89%
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 | 0.48% | 0.62% | 0.85% | 1.53% | 1.86% |
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 Tishomingo 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. 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 Burnsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Tishomingo County are both $413.00, found in the 38833 zip code.
Average Burnsville Assessed Value
$49,470
Average Tishomingo County Assessed Value
$60,500
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 | $12,561 | $26,802 | $49,470 | $71,568 | $100,309 |
Source: Ownwell
Property Tax Bills Across Burnsville, Mississippi
In Burnsville, located in Tishomingo County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, the median home price in Burnsville is $49,470, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $217, while those in the 75th percentile pay about $716. At the higher end, the 90th percentile sees tax bills of approximately $1,201. The highest median tax bill recorded in the area is $413. This variability can impact homeowners differently, with those owning higher-valued properties shouldering a larger share of the tax burden. Understanding how these factors interplay helps homeowners anticipate their annual property tax expenses and manage their finances accordingly.
Average Burnsville Tax Bill
$413
Average Tishomingo County Tax Bill
$531
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 | $114 | $217 | $413 | $716 | $1,201 |
Source: Ownwell