Swifton, Arkansas Property Taxes
The median property tax rate in Swifton, AR is 0.90%, which is below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $44,200 in Swifton, the typical annual property tax bill is approximately $275, significantly lower than the national median of $2,690. Property taxes in Swifton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Swifton'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 Swifton or another part of Jackson County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Swifton, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$398
Ownwell’s Swifton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swifton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swifton 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 Swifton, Arkansas
Property taxes in Swifton, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swifton is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Swifton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swifton 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 Swifton's effective property tax rate to other areas in Jackson County and the national median. For comparison, the 72471 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Swifton provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Swifton Tax Rate
0.90%
Average Jackson County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swifton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72471 | 0.14% | 0.43% | 0.90% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Swifton, Arkansas
In Swifton, 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 Jackson 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 Swifton, 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 Swifton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Swifton is $44,200, with tax bills ranging from $140 at the 25th percentile to $1,017 at the 90th percentile. Interestingly, the highest and lowest median tax bills are both $275 in the 72471 zip code.
Average Swifton Assessed Value
$44,200
Average Jackson County Assessed Value
$45,225
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Swifton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72471 | $9,920 | $23,600 | $44,200 | $66,962 | $123,950 |
Source: Ownwell
Property Tax Bills Across Swifton, Arkansas
In Swifton, located in Jackson County, AR, property tax bills are calculated based on the assessed value of the home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For example, the median home price in Swifton is $44,200, and the property tax rate is applied to this value to calculate the annual tax obligation. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or abatements. Homeowners in Swifton can expect their tax bills to range significantly. The 25th percentile tax bill is around $140, while the 75th percentile reaches $509. At the 90th percentile, the tax bill can be as high as $1017. Compared to the national median property tax rate of 0.99%, Swifton's property tax bills are relatively modest, making it an affordable place for homeowners. This lower tax burden can be a significant advantage, contributing to the overall cost of living and financial planning for residents.
Average Swifton Tax Bill
$275
Average Jackson County Tax Bill
$308
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Swifton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72471 | $47 | $140 | $275 | $509 | $1,017 |
Source: Ownwell