Brookland, Arkansas Property Taxes
The median property tax rate in Brookland, Arkansas is 0.71%, 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 Brookland at $152,450, the typical annual property tax bill amounts to $982, well below the national median of $2,690. Property taxes in Brookland 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 Brookland'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 Brookland 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
Brookland, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,082
Ownwell’s Brookland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brookland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brookland 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 Brookland, Arkansas
Property taxes in Brookland, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookland is 0.71%, which is lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Brookland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookland 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 Brookland's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72417 has the highest median property tax rate of 0.71%, while the same zip code 72417 also has the lowest median tax rate of 0.71%. Understanding how these cities compare with Brookland provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brookland Tax Rate
0.71%
Average Greene County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookland, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72417 | 0.58% | 0.62% | 0.71% | 0.77% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Brookland, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Brookland, Arkansas. 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 Greene 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 Brookland, 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 Brookland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72417, with an amount of $982.00, and the lowest median tax bill is also in zip code 72417, with the same amount.
Average Brookland Assessed Value
$152,450
Average Greene County Assessed Value
$101,950
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brookland, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72417 | $100,125 | $106,450 | $152,450 | $189,562 | $225,125 |
Source: Ownwell
Property Tax Bills Across Brookland, Arkansas
In Brookland, located in Greene County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, a home with a median market price of $152,450 will have its tax bill determined by applying the local tax rate to the assessed value. The tax rate in Brookland is influenced by various factors, including local government budgets and public service funding needs. For homeowners, this means that higher market values or increased local tax rates can result in higher property tax bills. In Brookland, the 25th percentile of tax bills is around $804, while the 75th percentile reaches $1,231, and the 90th percentile goes up to $1,609. Comparing this to the national median property tax rate of 0.99%, Brookland's property tax rates are relatively moderate. Homeowners in this area need to be mindful of these factors, as they directly impact annual property tax obligations and overall housing affordability.
Average Brookland Tax Bill
$982
Average Greene County Tax Bill
$820
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookland, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72417 | $690 | $804 | $982 | $1,231 | $1,609 |
Source: Ownwell