Jonesboro, Arkansas Property Taxes
The median property tax rate in Jonesboro, AR is 0.83%, slightly below the state median of 0.84% and the national median of 0.99%. With a median home value of $162,360, the typical annual property tax bill in Jonesboro is $1,320, which is significantly lower than the national median of $2,690. Property taxes in Jonesboro are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Jonesboro'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 Jonesboro 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
Jonesboro, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,348
Ownwell’s Jonesboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jonesboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jonesboro 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 Jonesboro, Arkansas
Property taxes in Jonesboro, Arkansas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jonesboro is 0.83%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Jonesboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jonesboro 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 Jonesboro's effective property tax rate to other counties in Arkansas and the national median. For comparison, 72421 has the highest median property tax rate of 1.07%, while 72416 has the lowest median tax rate of 0.68%. Understanding how these cities compare with Jonesboro provides valuable insights into the varying tax landscape across Craighead County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jonesboro Tax Rate
0.83%
Average Craighead County Tax Rate
0.83%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jonesboro, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72401 | 0.53% | 0.63% | 0.74% | 0.84% | 0.89% |
| 72402 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
| 72404 | 0.68% | 0.80% | 0.90% | 0.96% | 1.03% |
| 72405 | 0.58% | 0.72% | 0.85% | 0.94% | 0.96% |
| 72416 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
| 72421 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Jonesboro, Arkansas
In Jonesboro, 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 Craighead County Assessor 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 Jonesboro, 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 Jonesboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Craighead County is $2,863 in the 72416 zip code, while the lowest is $158 in the 72421 zip code.
Average Jonesboro Assessed Value
$162,360
Average Craighead County Assessed Value
$151,595
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jonesboro, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72401 | $46,723 | $77,798 | $118,040 | $180,502 | $270,376 |
| 72402 | $277,710 | $277,710 | $277,710 | $277,710 | $277,710 |
| 72404 | $105,232 | $149,031 | $194,600 | $291,784 | $429,826 |
| 72405 | $81,834 | $140,865 | $177,655 | $243,210 | $354,729 |
| 72416 | $421,190 | $421,190 | $421,190 | $421,190 | $421,190 |
| 72421 | $14,785 | $14,785 | $14,785 | $14,785 | $14,785 |
Source: Ownwell
Property Tax Bills Across Jonesboro, Arkansas
In Jonesboro, located in Craighead County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence this calculation, including the home's location, size, and any applicable exemptions or abatements. For homeowners in Jonesboro, the median home price is $162,360. Tax bills can vary significantly, with the 25th percentile tax bill at $762 and the 75th percentile reaching $1,941. At the 90th percentile, homeowners might see tax bills as high as $2,930. The highest median tax bill in Craighead County is $2,863 in the 72416 zip code, while the lowest is just $158 in the 72421 zip code. Compared to the national median property tax rate of 0.99%, Jonesboro's rates can have a substantial impact on homeowner finances, making it crucial for residents to understand their tax obligations.
Average Jonesboro Tax Bill
$1,320
Average Craighead County Tax Bill
$1,210
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Jonesboro, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72401 | $329 | $539 | $842 | $1,335 | $2,020 |
| 72402 | $2,445 | $2,445 | $2,445 | $2,445 | $2,445 |
| 72404 | $879 | $1,260 | $1,723 | $2,542 | $3,873 |
| 72405 | $535 | $1,085 | $1,546 | $2,076 | $2,930 |
| 72416 | $2,863 | $2,863 | $2,863 | $2,863 | $2,863 |
| 72421 | $158 | $158 | $158 | $158 | $158 |
Source: Ownwell