Florida vs Mississippi
Mississippi
Property‑Tax Comparison: Florida vs. Mississippi
Overview
Both Florida and Mississippi levy property taxes at rates that are below the national average. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Mississippi’s effective property‑tax rate (0.74 %) is slightly lower than Florida’s (0.79 %). The difference translates into modest variations in the amount of tax paid on homes of comparable value.
Side‑by‑Side Metrics
| Metric | Florida | Mississippi |
|---|---|---|
| Effective property‑tax rate | 0.79 % | 0.74 % |
| Median home value | $325,000 | $161,400 |
| Median annual property tax | $2,555 | $1,189 |
| Property tax on a $250,000 home | $1,966 | $1,842 |
| Property tax on a $500,000 home | $3,931 | $3,684 |
| Median household income | $71,711 | $54,915 |
Sources: “According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).”
Who Wins on Property Tax?
Mississippi records the lower effective property‑tax rate (0.74 % vs. 0.79 %).
- Rate difference: 0.05 % points, which is a 6.30 % lower rate relative to Florida.
- Annual tax difference on a $250,000 home: $124 less in Mississippi.
- Annual tax difference on a $500,000 home: $247 less in Mississippi.
Because the rate is the primary determinant of annual tax liability, Mississippi is the “winner” in a strict property‑tax comparison.
Which Audiences Might Find This Comparison Useful?
| Audience | Relevance of the Comparison |
|---|---|
| Current or prospective homeowners | Understanding how the tax rate impacts the cost of owning a home in each state. |
| Retirees | Property taxes affect fixed‑income budgets; a lower rate can reduce annual expenses. |
| Real‑estate investors | Rate differences influence cash‑flow projections for rental properties. |
| Policy analysts | The data provide a baseline for evaluating fiscal policy and local government revenue. |
The comparison is factual and does not constitute financial advice. Readers should also consider other factors such as local tax assessments, homestead exemptions, and state income‑tax policies when evaluating overall affordability.
Further Reading
- Detailed information on Florida’s property‑tax structure: Florida property tax
- Detailed information on Mississippi’s property‑tax structure: Mississippi property tax
Based on the most recent ACS estimates, the figures above reflect statewide averages and may vary at the county or municipal level.
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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.