Oppelo, Arkansas Property Taxes
The median property tax rate in Oppelo, AR is 0.44%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $93,350 in Oppelo, the typical annual property tax bill is $446, which is well below the national median of $2,690. Property taxes in Oppelo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Oppelo’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Oppelo or another part of Conway County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oppelo, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$411
Ownwell’s Oppelo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oppelo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oppelo to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. 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 Oppelo, Arkansas
Property taxes in Oppelo, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oppelo is 0.44%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Oppelo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oppelo 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 Oppelo's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72110 has both the highest and lowest median property tax rate of 0.44%. Understanding how these areas compare with Oppelo provides valuable insights into the varying tax landscape across Conway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oppelo Tax Rate
0.44%
Average Conway County Tax Rate
0.63%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oppelo, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72110 | 0.13% | 0.26% | 0.44% | 0.79% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Oppelo, Arkansas
In Oppelo, 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 Conway 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 Oppelo, 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. Being aware of these valuation processes in Oppelo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Oppelo are both $446, located in the 72110 zip code.
Average Oppelo Assessed Value
$93,350
Average Conway County Assessed Value
$84,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oppelo, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72110 | $23,130 | $57,950 | $93,350 | $133,800 | $187,610 |
Source: Ownwell
Property Tax Bills Across Oppelo, Arkansas
In Oppelo, located in Conway County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The median home price in Oppelo is $93,350. Homeowners can expect their tax bills to vary, with the 25th percentile at $222 and the 75th percentile reaching $793. At the 90th percentile, tax bills can go up to $1,292. Notably, the highest and lowest median tax bills in the area both stand at $446, indicating a relatively narrow range for median tax obligations within the specific zip code 72110. The assessed value is influenced by various factors, including the property's location, size, and condition. These elements collectively determine the tax rate applied. For homeowners, understanding these factors is crucial as they directly affect annual tax liabilities. By comparing the local median property tax rate to the national median of 0.99%, homeowners in Oppelo can better comprehend their tax obligations relative to broader trends.
Average Oppelo Tax Bill
$446
Average Conway County Tax Bill
$532
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Oppelo, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72110 | $84 | $222 | $446 | $793 | $1,292 |
Source: Ownwell