Parkdale, Arkansas Property Taxes
The median property tax rate in Parkdale, AR is 0.74%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Parkdale, the typical annual property tax bill reaches $177, significantly below the national median of $2,690. Property taxes in Parkdale are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Parkdale'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 Parkdale 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
Parkdale, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$202
Ownwell’s Parkdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parkdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parkdale 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 Parkdale, Arkansas
Property taxes in Parkdale, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parkdale is 0.74%, lower than the U.S. national median of 0.99%. Local government entities within Parkdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parkdale 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 Parkdale's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71661 has the highest median property tax rate of 0.74%, while the same zip code 71661 also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Parkdale 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 Parkdale Tax Rate
0.74%
Average Ashley County Tax Rate
0.60%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parkdale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71661 | 0.19% | 0.56% | 0.74% | 0.93% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Parkdale, Arkansas
In Parkdale, 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 Parkdale, 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 Parkdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Parkdale, the zip code 71661 has the highest and lowest median tax bill at $177. With the median home price at $27,350, property owners can benefit significantly from understanding these details.
Average Parkdale Assessed Value
$27,350
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 Parkdale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71661 | $4,150 | $14,000 | $27,350 | $54,300 | $90,250 |
Source: Ownwell
Property Tax Bills Across Parkdale, Arkansas
In Parkdale, located in Ashley County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The national median property tax rate is 0.99%, but local rates can vary significantly. For example, in Parkdale, the median home price is $27,350. Property tax bills can range widely; at the 25th percentile, homeowners pay around $59, while at the 75th percentile, the bill can rise to $349. For those at the 90th percentile, property taxes can reach up to $800 annually. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. These taxes fund essential public services such as schools, infrastructure, and emergency services, impacting the overall quality of life. Homeowners in Parkdale, therefore, need to be mindful of their property’s assessed value and understand how local tax rates affect their annual financial obligations.
Average Parkdale Tax Bill
$177
Average Ashley County Tax Bill
$300
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Parkdale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71661 | $29 | $59 | $177 | $349 | $800 |
Source: Ownwell