Union County, Mississippi Property Taxes
The median property tax rate in Union County is 1.14%, 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 $62,900 in Union County, the typical annual property tax bill is $664, which is significantly below the national median of $2,690. Property taxes in Union County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Union County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you reside in New Albany or another part of Union County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Union County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$717
$665
Ownwell’s Union County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Union County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Union County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Union County, Mississippi
Property taxes in Union County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Union County is 1.14%, which is higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Union County set these rates annually, and they can vary significantly between different areas within the county. Each year, Union County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Union County's effective property tax rate with other counties in Mississippi and the national median. For comparison, the city of Ripley has one of the higher property tax rates in Mississippi at 1.51%, while the city of Hickory Flat boasts one of the lowest at 0.86%. Analyzing how Union County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Union County Tax Rate
1.14%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baldwyn | 0.32% | 0.67% | 0.94% | 1.57% | 1.58% |
| Blue Mountain | 0.28% | 0.64% | 0.93% | 1.57% | 1.93% |
| Blue Springs | 0.49% | 0.66% | 0.92% | 1.57% | 1.60% |
| Dumas | 0.64% | 0.88% | 1.21% | 1.93% | 1.93% |
| Ecru | 0.59% | 0.67% | 0.90% | 1.57% | 1.58% |
| Etta | 0.60% | 0.68% | 0.95% | 1.57% | 1.58% |
| Guntown | 0.63% | 0.68% | 0.95% | 1.57% | 1.58% |
| Hickory Flat | 0.56% | 0.65% | 0.86% | 1.57% | 1.58% |
| Myrtle | 0.40% | 0.68% | 0.96% | 1.57% | 1.58% |
| New Albany | 0.49% | 0.84% | 1.19% | 1.93% | 2.15% |
| Ripley | 0.79% | 0.88% | 1.51% | 1.94% | 1.96% |
| Sherman | 0.93% | 1.04% | 1.15% | 2.10% | 2.10% |
| Thaxton | 0.65% | 0.71% | 0.88% | 1.57% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Union County, Mississippi
In Union County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Union County Appraisal District. The assessed value, however, 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. Assessment notices in Union County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, in Union County, the median home price is $62,900, with tax bills ranging from $282 at the 25th percentile to $2,157 at the 90th percentile. Sherman has the highest median tax bill at $1,083, while Hickory Flat has the lowest at $327. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Union County Assessed Value
$62,900
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Union County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baldwyn | $9,028 | $13,180 | $42,150 | $90,850 | $141,230 |
| Blue Mountain | $10,410 | $35,830 | $82,640 | $142,690 | $196,890 |
| Blue Springs | $9,240 | $19,970 | $55,380 | $103,365 | $165,440 |
| Dumas | $8,210 | $19,145 | $45,330 | $76,640 | $130,240 |
| Ecru | $11,042 | $22,232 | $46,590 | $92,422 | $162,456 |
| Etta | $8,362 | $18,090 | $49,970 | $95,820 | $171,498 |
| Guntown | $8,266 | $17,800 | $43,100 | $88,065 | $152,240 |
| Hickory Flat | $8,690 | $15,478 | $35,655 | $78,372 | $131,259 |
| Myrtle | $10,780 | $23,675 | $59,020 | $107,015 | $170,130 |
| New Albany | $11,961 | $33,015 | $69,400 | $132,195 | $212,610 |
| Ripley | $11,070 | $14,035 | $30,850 | $46,805 | $160,644 |
| Sherman | $9,330 | $60,450 | $83,560 | $107,238 | $135,385 |
| Thaxton | $8,270 | $16,145 | $30,460 | $83,250 | $167,010 |
Source: Ownwell
Property Tax Bills Across Union County, Mississippi
In Union County, MS, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners, this means that the higher the market value of their property, the higher their tax bill will be. For instance, the median home price in Union County is $62,900. Tax bills in the county vary significantly. The 25th percentile tax bill is $282, while the 75th percentile is $1,312, and the 90th percentile reaches $2,157. Comparatively, the highest median tax bill in Sherman is $1,083, whereas the lowest median tax bill in Hickory Flat is $327. These figures illustrate the range of property tax burdens faced by homeowners in the area. Understanding these factors can help homeowners anticipate their annual property tax expenses and plan accordingly.
Average Union County Tax Bill
$664
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Union County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baldwyn | $72 | $157 | $364 | $792 | $1,436 |
| Blue Mountain | $117 | $274 | $668 | $1,308 | $2,201 |
| Blue Springs | $94 | $210 | $481 | $1,015 | $1,647 |
| Dumas | $107 | $229 | $583 | $937 | $1,688 |
| Ecru | $125 | $193 | $408 | $826 | $1,531 |
| Etta | $95 | $204 | $479 | $998 | $1,778 |
| Guntown | $90 | $173 | $433 | $837 | $1,460 |
| Hickory Flat | $68 | $141 | $327 | $678 | $1,081 |
| Myrtle | $108 | $238 | $533 | $1,088 | $1,809 |
| New Albany | $153 | $369 | $797 | $1,500 | $2,436 |
| Ripley | $180 | $248 | $373 | $902 | $1,224 |
| Sherman | $96 | $605 | $1,083 | $1,424 | $2,086 |
| Thaxton | $79 | $167 | $387 | $876 | $1,651 |
Source: Ownwell