Alaska vs Mississippi
Mississippi
Property Tax Comparison: Alaska vs. Mississippi
Short introduction
Both Alaska and Mississippi have relatively low property‑tax burdens compared with many other U.S. states, but the two differ in rates, home values, and median household incomes. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Mississippi’s effective property‑tax rate is lower than Alaska’s, while Alaska’s median home values and household incomes are higher.
Side‑by‑side comparison
| Metric | Alaska | Mississippi |
|---|---|---|
| Effective property‑tax rate | 1.14 % | 0.74 % |
| Median home value | $333,300 | $161,400 |
| Median annual property tax | $3,785 | $1,189 |
| Property tax on a $250,000 home | $2,839 | $1,842 |
| Property tax on a $500,000 home | $5,678 | $3,684 |
| Median household income | $89,336 | $54,915 |
Sources: “According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).”
Which state “wins” on property taxes?
Mississippi has the lower effective property‑tax rate (0.74 % vs. 1.14 %). The rate difference is 0.40 percentage points, representing a 35.13 % lower rate in Mississippi.
Illustrative tax differences
- On a $250,000 home, the annual tax in Mississippi ($1,842) is $997 less than in Alaska ($2,839).
- On a $500,000 home, the annual tax in Mississippi ($3,684) is $1,994 less than in Alaska ($5,678).
Thus, based on the lower tax rate and the resulting lower annual tax amounts, Mississippi “wins” the property‑tax comparison.
Who benefits most from this comparison?
| Audience | Relevance of the data |
|---|---|
| Current and prospective homeowners | The effective tax rate and the per‑home‑value calculations show the ongoing cost of owning property in each state. |
| Retirees | Lower property taxes can reduce fixed‑income expenses; Mississippi’s lower rate may be more attractive, though other cost‑of‑living factors also matter. |
| Real‑estate investors | Understanding the tax burden relative to home value assists in evaluating cash‑flow and return‑on‑investment scenarios. |
| Policy analysts | The table provides a concise snapshot of how tax structures differ between two low‑tax states, useful for comparative fiscal studies. |
Additional resources
- Detailed information on Alaska’s property‑tax system: Alaska property tax
- Detailed information on Mississippi’s property‑tax system: Mississippi property tax
All figures are drawn from the most recent ACS estimates and reflect median values; individual property tax bills can vary based on local assessment practices, exemptions, and specific property characteristics.
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Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.