Connecticut vs Mississippi
Mississippi
Property Tax Comparison: Connecticut vs. Mississippi
Intro
Both Connecticut and Mississippi levy property taxes that fund local services such as schools, police, and road maintenance. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Connecticut’s effective property tax rate is more than double that of Mississippi. The following side‑by‑side table and analysis illustrate how the two states differ in terms of tax rates, home values, and related household income.
Side‑by‑Side Comparison
| Metric | Connecticut | Mississippi |
|---|---|---|
| Effective property tax rate | 1.92 % | 0.74 % |
| Median home value | $343,200 | $161,400 |
| Median annual property tax | $6,575 | $1,189 |
| Property tax on a $250,000 home | $4,789 | $1,842 |
| Property tax on a $500,000 home | $9,579 | $3,684 |
| Median household income | $93,760 | $54,915 |
| Source | Connecticut property tax | Mississippi property tax |
All figures are taken from the U.S. Census Bureau’s 2023 ACS 5‑year estimates.
Which State “Wins” on Property Taxes?
Mississippi has the lower effective property tax rate.
- Rate difference: 1.92 % – 0.74 % = 1.18 percentage points.
- Relative difference: Mississippi’s rate is about 61.5 % lower than Connecticut’s (0.74 % ÷ 1.92 % ≈ 0.385, or a 61.5 % reduction).
Because the tax burden is calculated as a percentage of assessed value, the lower rate translates into lower annual taxes for comparable property values:
| Home value | Tax difference (Mississippi – Connecticut) |
|---|---|
| $250,000 | $2,947 less per year |
| $500,000 | $5,895 less per year |
Thus, based solely on property‑tax rates, Mississippi “wins” by imposing a substantially smaller tax burden.
Who Might Benefit Most from This Comparison?
| Audience | Relevance of Lower Property Taxes |
|---|---|
| Current homeowners | Residents with higher‑valued homes (e.g., $250 k–$500 k) would see a noticeable reduction in annual out‑of‑pocket costs in Mississippi compared with Connecticut. |
| Prospective homebuyers | Buyers prioritizing lower ongoing tax expenses may find Mississippi more attractive, especially when budgeting for fixed‑rate mortgages. |
| Retirees and fixed‑income households | Lower property taxes can reduce the cost of living for those on limited incomes; Mississippi’s median household income is lower, so the relative tax burden is lighter. |
| Investors | Investors evaluating cash‑flow properties will encounter lower property‑tax expenses in Mississippi, potentially improving net operating income. |
| Policymakers and researchers | The data illustrate how state‑level tax structures interact with median home values and incomes, useful for comparative fiscal studies. |
The comparison is strictly tax‑rate focused; it does not account for differences in public‑service funding, local levies, or other cost‑of‑living factors that may influence an individual’s overall financial picture.
References
- “Effective property tax rate, median home value, and related metrics,” U.S. Census Bureau, 2023 American Community Survey 5‑year estimates.
Based on the most recent ACS estimates, Mississippi imposes the lower property tax rate, resulting in lower annual taxes for comparable home values.
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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.