Mammoth Spring, Arkansas Property Taxes
The median property tax rate in Mammoth Spring, AR is 0.82%, slightly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Mammoth Spring at $54,050, the typical annual property tax bill is $233, significantly below the national median of $2,690. Property taxes in Mammoth Spring are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mammoth Spring'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 Mammoth Spring 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
Mammoth Spring, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$443
Ownwell’s Mammoth Spring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mammoth Spring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mammoth Spring 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 Mammoth Spring, Arkansas
Property taxes in Mammoth Spring, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mammoth Spring is 0.43%, which is significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Mammoth Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mammoth Spring 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 Mammoth Spring's effective property tax rate to other counties in Arkansas and the national median. For comparison, Randolph County has the highest median property tax rate of 0.61%, while the lowest median tax rate in the state is 0.33%. Understanding how these cities compare with Mammoth Spring provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mammoth Spring Tax Rate
0.82%
Average Randolph County Tax Rate
0.59%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mammoth Spring, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72554 | 0.44% | 0.68% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Mammoth Spring, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mammoth Spring, Arkansas. 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 Randolph 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 Mammoth Spring, 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 Mammoth Spring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $233 in zip code 72554, which also has the lowest median tax bill.
Average Mammoth Spring Assessed Value
$54,050
Average Randolph County Assessed Value
$65,900
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mammoth Spring, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72554 | $6,235 | $18,450 | $54,050 | $92,325 | $152,780 |
Source: Ownwell
Property Tax Bills Across Mammoth Spring, Arkansas
In Mammoth Spring, located in Randolph 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 Mammoth Spring is $54,050, and the property tax rate is applied to this assessed value to determine the tax bill. Various factors influence the tax bill, including the property's location, its assessed value, and applicable exemptions or deductions. Homeowners in Mammoth Spring can expect their tax bills to vary. For instance, those in the 25th percentile pay around $138, while those in the 75th percentile face bills of approximately $663. The 90th percentile sees tax bills reaching up to $1,013. These figures highlight the range of property tax obligations within the city. Compared to the national median property tax rate of 0.99%, Mammoth Spring's rates offer a relatively affordable tax environment for homeowners, which can significantly impact their overall housing costs.
Average Mammoth Spring Tax Bill
$233
Average Randolph County Tax Bill
$338
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mammoth Spring, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72554 | $51 | $138 | $233 | $663 | $1,013 |
Source: Ownwell