1. I have a custom field "Property Tag" with a description of "blah blah blah"
2. Property Tag is listed in Field Configuration "Servers"
3. I go into Field Configuration "Servers" and delete the description for the field Property Tag. I click update.
4. When I return to the Field Configuration, Property Tag still has the description "blah blah blah."
Probably you have set "blah blah blah" as a description of your custom field when you've created this field. When you remove the description on Field Configuration JIRA put the custom field description by default, so edit your custom field and removed the description from the Custom Field page
Boris - thank you, you are right. If I put in a blank space " " in the Description of the field in the Field Configuration, then I get what I want: nothing. If I delete the Description entirely, then, as you said, it reverts back to the Description associated with the custom field.
Also, you are right in that the best method is to leave the custom field's Description blank. If you need to set any description, do it in the Field Configurations.
If you want to keep the Field Description in the Custom Fields section, and make the description blank for one of the projects, you can just edit the field description in the Field Configuration and set it to blank, like below:
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