Sturkie, Arkansas Property Taxes
The median property tax rate in Sturkie, AR is 0.75%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Sturkie at $74,625, the typical annual property tax bill reaches $526, significantly below the national median of $2,690. Property taxes in Sturkie 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 Sturkie'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 Sturkie 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
Sturkie, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$560
Ownwell’s Sturkie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sturkie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sturkie 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 Sturkie, Arkansas
Property taxes in Sturkie, Arkansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sturkie is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Sturkie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sturkie 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 Sturkie's effective property tax rate to other regions and the national median. For comparison, the zip code 72578 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these rates compare with Sturkie provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sturkie Tax Rate
0.75%
Average Fulton County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sturkie, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72578 | 0.50% | 0.66% | 0.75% | 0.75% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Sturkie, Arkansas
In Sturkie, 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 Fulton 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 Sturkie, 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 Sturkie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sturkie is $74,625, with tax bills ranging from $271 at the 25th percentile to $1,166 at the 90th percentile. Notably, the zip code 72578 has the highest median tax bill of $526.
Average Sturkie Assessed Value
$74,625
Average Fulton County Assessed Value
$68,050
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sturkie, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72578 | $18,980 | $41,662 | $74,625 | $106,625 | $155,135 |
Source: Ownwell
Property Tax Bills Across Sturkie, Arkansas
In Sturkie, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Sturkie is $74,625. Once the assessed value is determined, a tax rate set by local authorities is applied. This rate can vary, impacting the final tax bill that homeowners receive. Factors such as property location within Fulton County, local government budget needs, and specific exemptions also play a role in determining the tax bill. For homeowners in Sturkie, the 25th percentile tax bill is $271, while the 75th percentile tax bill reaches $764. At the 90th percentile, the tax bill can go up to $1,166. These figures illustrate the range of property tax burdens in the area. Compared to the national median property tax rate of 0.99%, the tax rates in Sturkie can be relatively favorable, offering some relief to homeowners. Understanding these factors helps homeowners better anticipate their annual property tax obligations.
Average Sturkie Tax Bill
$526
Average Fulton County Tax Bill
$483
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Sturkie, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72578 | $141 | $271 | $526 | $764 | $1,166 |
Source: Ownwell