Crumrod, Arkansas Property Taxes
The median property tax rate in Crumrod, AR is 0.87%, 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 Crumrod at $101,550, the typical annual property tax bill reaches $888, which is below the national median of $2,690. Property taxes in Crumrod are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Crumrod'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 Crumrod 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
Crumrod, 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 Crumrod Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crumrod with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crumrod 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 Crumrod, Arkansas
Property taxes in Crumrod, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crumrod is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Crumrod set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crumrod 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 Crumrod's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72328 zip code has the highest median property tax rate of 0.87%, while the 72328 zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Crumrod provides valuable insights into the varying tax landscape across Phillips County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crumrod Tax Rate
0.87%
Average Phillips County Tax Rate
0.97%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crumrod, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72328 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Crumrod, Arkansas
In Crumrod, 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 Phillips County Assessor 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 Crumrod, 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 Crumrod helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Crumrod is $101,550, with the highest and lowest median tax bills both at $888, particularly in the 72328 zip code.
Average Crumrod Assessed Value
$101,550
Average Phillips County Assessed Value
$31,950
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crumrod, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72328 | $101,550 | $101,550 | $101,550 | $101,550 | $101,550 |
Source: Ownwell
Property Tax Bills Across Crumrod, Arkansas
In Crumrod, located in Phillips County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property, and this figure is used to calculate the property tax bill. For instance, with a median home price of $101,550, homeowners can expect their tax bills to reflect this valuation. In Crumrod, the tax bill for the 25th, 75th, and 90th percentiles all stand at $888, indicating a consistent rate across different property values. This uniformity provides homeowners with a predictable financial obligation. Compared to the national median property tax rate of 0.99%, Crumrod's property tax rate signifies a stable and manageable cost for residents. This consistency in tax bills helps homeowners budget effectively and ensures that property taxes remain a foreseeable expense.
Average Crumrod Tax Bill
$888
Average Phillips County Tax Bill
$283
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Crumrod, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72328 | $888 | $888 | $888 | $888 | $888 |
Source: Ownwell