Quitman, Arkansas Property Taxes
The median property tax rate in Quitman, AR is 0.80%, slightly below both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $85,600 in Quitman, the typical annual property tax bill amounts to $686, significantly lower than the national median of $2,690. Property taxes in Quitman are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Quitman'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 Quitman or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Quitman, 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 Quitman Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Quitman. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Quitman to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by the county and includes any applicable exemptions, ensuring a precise calculation for property tax purposes.
Property Tax Rates Across Quitman, Arkansas
Property taxes in Quitman, Arkansas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Quitman is 0.80%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Quitman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quitman 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 Quitman's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72131 zip code has the highest median property tax rate of 0.80%, while also having the lowest median tax rate of 0.80%. Understanding how these areas compare with Quitman provides valuable insights into the varying tax landscape across White County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quitman Tax Rate
0.80%
Average White County Tax Rate
0.81%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quitman, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72131 | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Quitman, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Quitman, 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 White 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 Quitman 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. For instance, the median home price in the area is $85,600, and the median tax bill is $686. 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 Quitman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Quitman Assessed Value
$85,600
Average White County Assessed Value
$81,100
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quitman, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72131 | $85,600 | $85,600 | $85,600 | $85,600 | $85,600 |
Source: Ownwell
Property Tax Bills Across Quitman, Arkansas
In Quitman, located in White County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $85,600, the assessed value typically represents a fraction of this market price. The property tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including the home's location, assessed value, and applicable local tax rates. In Quitman, the median property tax bill stands at $686, which is significantly lower than the national median property tax rate of 0.99%. This lower tax burden can be beneficial for homeowners, making homeownership more affordable in this region. However, it’s important for homeowners to regularly review their property assessments to ensure accuracy and fairness in their tax obligations.
Average Quitman Tax Bill
$686
Average White County Tax Bill
$632
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Quitman, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72131 | $686 | $686 | $686 | $686 | $686 |
Source: Ownwell