Alexander, Arkansas Property Taxes
The median property tax rate in Alexander, AR is 0.82%, slightly lower than the state median of 0.84% and below the national median of 0.99%. With the median home value in Alexander at $157,635, the typical annual property tax bill amounts to $1,332, which is significantly lower than the national median of $2,690. Property taxes in Alexander are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Alexander'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 Alexander 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
Alexander, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,293
Ownwell’s Alexander Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Alexander with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alexander to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. 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 Alexander, Arkansas
Property taxes in Alexander, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alexander is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Alexander set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alexander 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 Alexander's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72002 has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with Alexander provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alexander Tax Rate
0.82%
Average Saline County Tax Rate
0.83%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alexander, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72002 | 0.57% | 0.69% | 0.82% | 0.93% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Alexander, Arkansas
In Alexander, 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 Saline 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 Alexander, 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 Alexander helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1,332, found in the 72002 zip code.
Average Alexander Assessed Value
$157,635
Average Saline County Assessed Value
$164,560
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alexander, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72002 | $19,126 | $61,582 | $157,635 | $236,638 | $352,473 |
Source: Ownwell
Property Tax Bills Across Alexander, Arkansas
Property tax bills in Alexander, located in Saline County, AR, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value. In Arkansas, properties are assessed at 20% of their market value. For instance, with a median home price of $157,635, the assessed value would be approximately $31,527. Local tax rates are then applied to this assessed value to calculate the tax bill. Factors such as property location, improvements, and exemptions also influence the final tax amount. In Alexander, the 25th percentile tax bill is $438, while the 75th percentile reaches $1,860, and the 90th percentile can be as high as $2,840. For homeowners, understanding these factors is crucial as property taxes significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Alexander's rates and tax bills can vary widely, affecting financial planning and homeownership costs.
Average Alexander Tax Bill
$1,332
Average Saline County Tax Bill
$1,361
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Alexander, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72002 | $154 | $438 | $1,332 | $1,860 | $2,840 |
Source: Ownwell