Perry, Arkansas Property Taxes
The median property tax rate in Perry, AR is 0.44%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $66,850, the typical annual property tax bill in Perry is $306, well below the national median of $2,690. Property taxes in Perry 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 Perry'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 Perry or another part of the county, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Perry, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Perry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perry 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 Perry, Arkansas
Property taxes in Perry, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perry is 0.44%, significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Perry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perry 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 Perry's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72125 zip code has the highest median property tax rate of 0.44%, while the same zip code also has the lowest median tax rate of 0.44%. Understanding how these cities compare with Perry provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Perry Tax Rate
0.44%
Average Perry County Tax Rate
0.63%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Perry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72125 | 0.13% | 0.24% | 0.44% | 0.76% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Perry, Arkansas
In Perry, 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 Perry 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. Assessment notices in Perry 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. For example, Perry's median home price is $66,850, with tax bills ranging from $151 at the 25th percentile to $922 at the 90th percentile. The zip code 72125 has the highest median tax bill at $306. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Perry Assessed Value
$66,850
Average Perry County Assessed Value
$78,175
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Perry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72125 | $19,560 | $33,025 | $66,850 | $102,412 | $175,595 |
Source: Ownwell
Property Tax Bills Across Perry, Arkansas
In Perry, AR, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessment ratio in Arkansas is 20%, meaning a home with a market value of $66,850 would have an assessed value of $13,370. Property tax rates, or millage rates, are then applied to this assessed value to determine the tax bill. Factors such as local government budgets, school district funding, and public services influence these rates. For homeowners in Perry, the property tax bill can vary significantly. For instance, the 25th percentile tax bill is $151, while the 75th percentile is $608, and the 90th percentile reaches $922. The median tax bill in the area is $306, which is considerably lower than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Perry Tax Bill
$306
Average Perry County Tax Bill
$443
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Perry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72125 | $77 | $151 | $306 | $608 | $922 |
Source: Ownwell