Stamps, Arkansas Property Taxes
The median property tax rate in Stamps, AR is 0.84%, aligning with the Arkansas state median but lower than the national median of 0.99%. With a median home value of $27,450, the typical annual property tax bill in Stamps reaches $148, significantly below the national median of $2,690. Property taxes in Stamps are calculated based on the assessed value, which often falls below the market value thanks to various exemptions such as the primary residence and agricultural exemptions. Understanding Stamps' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Stamps 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
Stamps, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$231
Ownwell’s Stamps Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Stamps. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Stamps to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you plan your finances better. For those interested in more granular details, localized information on neighborhood trends is available below. Remember, your property’s assessed value is the figure assigned by Lafayette County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Stamps, Arkansas
Property taxes in Stamps, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stamps is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Stamps set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stamps 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 Stamps's effective property tax rate to other areas in Arkansas and the national median. For comparison, the 71860 zip code in Lafayette County has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these areas compare with Stamps provides valuable insights into the varying tax landscape across Lafayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stamps Tax Rate
0.84%
Average Lafayette County Tax Rate
0.93%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stamps, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71860 | 0.14% | 0.43% | 0.84% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Stamps, Arkansas
In Stamps, 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 Lafayette 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 Stamps, 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 Stamps helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Stamps is $27,450, with the highest and lowest median tax bills being $148.00 in zip code 71860.
Average Stamps Assessed Value
$27,450
Average Lafayette County Assessed Value
$29,800
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stamps, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71860 | $4,150 | $11,225 | $27,450 | $54,450 | $98,050 |
Source: Ownwell
Property Tax Bills Across Stamps, Arkansas
In Stamps, located in Lafayette County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The median home price in Stamps is $27,450. To determine your property tax bill, local tax authorities first assess your property's value, then apply the local tax rate to this assessed value. For homeowners in Stamps, property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $56, while at the 75th percentile, it rises to $350. At the 90th percentile, the tax bill can reach up to $652. The highest median tax bill in the area is $148, which is significantly lower than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by influencing their annual housing costs. Lower property taxes can make homeownership more affordable, but they also reflect the local government's revenue for public services like schools and infrastructure.
Average Stamps Tax Bill
$148
Average Lafayette County Tax Bill
$185
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Stamps, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71860 | $23 | $56 | $148 | $350 | $652 |
Source: Ownwell