Jersey, Arkansas Property Taxes
The median property tax rate in Jersey, Arkansas is 1.02%, which is higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $26,350 in Jersey, the typical annual property tax bill amounts to $285, surpassing the national median of $2,690. Property taxes in Jersey are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Jersey's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Jersey or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jersey, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$269
Ownwell’s Jersey Property Tax Bill Calculator empowers homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Jersey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jersey to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, further localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Jersey, Arkansas
Property taxes in Jersey, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jersey is 1.02%, higher than the U.S. national median of 0.99%. Local government entities within Jersey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jersey estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Jersey's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71651 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Jersey provides valuable insights into the varying tax landscape across Bradley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jersey Tax Rate
1.02%
Average Bradley County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jersey, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71651 | 0.89% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Jersey, Arkansas
In Jersey, Arkansas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Bradley County Appraisal District for tax purposes. In contrast, the assessed value 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. In Jersey, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip code 71651 has the highest median tax bill of $285. By being aware of these valuation processes in Jersey, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jersey Assessed Value
$26,350
Average Bradley County Assessed Value
$39,800
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jersey, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71651 | $2,950 | $8,950 | $26,350 | $57,565 | $96,580 |
Source: Ownwell
Property Tax Bills Across Jersey, Arkansas
In Jersey, Bradley County, AR, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the market value of the home. For instance, in this region, homeowners can expect a median home price of $26,350. Property tax rates are applied to this assessed value to determine the tax bill. Various factors influence the final tax bill, including the property's location, improvements, and any applicable exemptions. Homeowners in Jersey experience a range of property tax bills. The 25th percentile tax bill is around $96, while those at the 75th percentile pay approximately $591. The top 10% of homeowners face tax bills nearing $983. The highest median tax bill in the area is $285, found in the 71651 zip code. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and public safety, ensuring the community remains well-maintained and functional.
Average Jersey Tax Bill
$285
Average Bradley County Tax Bill
$393
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Jersey, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71651 | $34 | $96 | $285 | $591 | $983 |
Source: Ownwell