Grapevine, Arkansas Property Taxes
The median property tax rate in Grapevine, Arkansas is 0.82%, slightly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Grapevine at $70,250, the typical annual property tax bill is $536, which is significantly below the national median of $2,690. Property taxes in Grapevine are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grapevine'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 Grapevine 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
Grapevine, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$576
Ownwell’s Grapevine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grapevine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grapevine 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 Grapevine, Arkansas
Property taxes in Grapevine, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grapevine is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Grapevine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grapevine 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 Grapevine's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72057 zip code has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Grapevine provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grapevine Tax Rate
0.82%
Average Grant County Tax Rate
0.85%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grapevine, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72057 | 0.60% | 0.72% | 0.82% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Grapevine, Arkansas
In Grapevine, 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 local 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 Grapevine, 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. For instance, the median home price in Grapevine is $70,250, with tax bills ranging from $260 at the 25th percentile to $1,678 at the 90th percentile. 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 Grapevine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grapevine Assessed Value
$70,250
Average Grant County Assessed Value
$100,075
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grapevine, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72057 | $15,400 | $33,250 | $70,250 | $137,800 | $209,645 |
Source: Ownwell
Property Tax Bills Across Grapevine, Arkansas
In Grapevine, located in Grant County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Grapevine is $70,250. Property taxes are determined by multiplying the assessed value by the local tax rate. The tax rate in this area is influenced by various factors, including funding requirements for public services such as schools and infrastructure. Homeowners in Grapevine face a range of property tax bills. For instance, the 25th percentile tax bill is $260, while the 75th percentile is $1,034, and the 90th percentile reaches up to $1,678. These figures show a broad spectrum of tax burdens depending on the property's assessed value and the specific tax rates applied. Compared to the national median property tax rate of 0.99%, Grapevine's property tax rates can vary significantly, impacting homeowners differently based on their property's assessed value and location within the county. This variability underscores the importance of understanding local tax policies and how they affect individual tax bills.
Average Grapevine Tax Bill
$536
Average Grant County Tax Bill
$770
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Grapevine, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72057 | $129 | $260 | $536 | $1,034 | $1,678 |
Source: Ownwell