Crossett, Arkansas Property Taxes
The median property tax rate in Crossett, AR is 0.62%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Crossett at $60,850, the typical annual property tax bill amounts to $341, well below the national median of $2,690. Property taxes in Crossett are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Crossett'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 Crossett 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
Crossett, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$377
Ownwell’s Crossett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crossett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crossett 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 Crossett, Arkansas
Property taxes in Crossett, Arkansas, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Crossett is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Crossett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crossett 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 Crossett's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71635 has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Crossett provides valuable insights into the varying tax landscape across Ashley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crossett Tax Rate
0.62%
Average Ashley County Tax Rate
0.60%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crossett, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71635 | 0.12% | 0.31% | 0.62% | 0.86% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Crossett, Arkansas
In Crossett, 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 Ashley 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 Crossett, 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. The highest median tax bill in Crossett is $341.00 in the zip code 71635, while the lowest median tax bill is also $341.00 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Crossett Assessed Value
$60,850
Average Ashley County Assessed Value
$56,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crossett, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71635 | $15,400 | $32,800 | $60,850 | $113,950 | $165,250 |
Source: Ownwell
Property Tax Bills Across Crossett, Arkansas
In Crossett, property tax bills are calculated based on the assessed value of a home, which is determined by the Ashley County tax assessor's office. The assessed value is a percentage of the market value of the property. For homeowners in Crossett, the median home price is $60,850. Property tax rates are applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location within the county, any applicable exemptions, and the specific tax rate set by local governing bodies. For example, the median tax bill in Crossett is $341, aligning with the lowest and highest median tax bills in the region, both recorded at $341 in the zip code 71635. Homeowners in Crossett can expect their tax bills to fall within a range, with the 25th percentile at $155 and the 75th percentile at $635. The 90th percentile tax bill reaches up to $1,106, reflecting variations in property values and applicable exemptions. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Crossett Tax Bill
$341
Average Ashley County Tax Bill
$300
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Crossett, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71635 | $53 | $155 | $341 | $635 | $1,106 |
Source: Ownwell