Winthrop, Arkansas Property Taxes
The median property tax rate in Winthrop, Arkansas is 0.91%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Winthrop, the typical annual property tax bill reaches $489, significantly below the national median of $2,690. Property taxes in Winthrop are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Winthrop'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 Winthrop or another part of Little River County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Winthrop, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$625
Ownwell’s Winthrop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winthrop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winthrop 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 Winthrop, Arkansas
Property taxes in Winthrop, Arkansas, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Winthrop stands at 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities in Winthrop set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winthrop 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. Understanding how these cities compare with Winthrop provides valuable insights into the varying tax landscape across Little River County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winthrop Tax Rate
0.91%
Average Little River County Tax Rate
0.55%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winthrop, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71866 | 0.13% | 0.49% | 0.91% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Winthrop, Arkansas
In Winthrop, 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 Little River 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 Winthrop, 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 Winthrop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 71866 has both the highest and lowest median tax bill at $489.
Average Winthrop Assessed Value
$68,675
Average Little River County Assessed Value
$68,475
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winthrop, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71866 | $14,250 | $35,900 | $68,675 | $126,912 | $200,505 |
Source: Ownwell
Property Tax Bills Across Winthrop, Arkansas
In Winthrop, property tax bills are calculated based on the assessed value of a home. The median home price in the city is $68,675. Local tax authorities assess properties to determine their value, which is then multiplied by the tax rate to calculate the tax bill. Various factors influence the assessed value, including the property's location, size, and condition. For homeowners in Winthrop, property tax bills can vary significantly. The 25th percentile tax bill is $158, while the 75th percentile tax bill is $929. The top 10% of tax bills reach up to $1,685. The median tax bill in the 71866 zip code, which includes Winthrop, is $489, reflecting the broader range within the county. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is essential for financial planning and managing yearly expenses.
Average Winthrop Tax Bill
$489
Average Little River County Tax Bill
$326
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Winthrop, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71866 | $42 | $158 | $489 | $929 | $1,685 |
Source: Ownwell