Avoca, Arkansas Property Taxes
The median property tax rate in Avoca, AR is 0.77%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $94,475 in Avoca, the typical annual property tax bill is $775, significantly less than the national median of $2,690. Property taxes in Avoca are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Avoca'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 Avoca 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
Avoca, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$727
Ownwell’s Avoca Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Avoca with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Avoca 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 Avoca, Arkansas
Property taxes in Avoca, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Avoca is 0.61%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Avoca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Avoca 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 Avoca's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72711 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Avoca provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Avoca Tax Rate
0.77%
Average Benton County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Avoca, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72711 | 0.57% | 0.66% | 0.77% | 0.88% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Avoca, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Avoca, 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 Benton 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 Avoca, 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. For example, the median home price in Avoca is $94,475, with property tax bills ranging from $521 at the 25th percentile to $1,728 at the 90th percentile. The zip code 72711 has the highest median tax bill at $775. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Avoca Assessed Value
$94,475
Average Benton County Assessed Value
$211,150
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Avoca, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72711 | $31,148 | $69,888 | $94,475 | $154,600 | $207,627 |
Source: Ownwell
Property Tax Bills Across Avoca, Arkansas
In Avoca, Benton County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Avoca can expect their tax bills to be influenced by factors such as the property's assessed value, applicable tax rates, and any exemptions for which they may qualify. The median home price in Avoca stands at $94,475. Tax bills vary widely, with the 25th percentile at approximately $521 and the 75th percentile reaching $1,166. For those at the higher end, the 90th percentile tax bill is around $1,728. The highest and lowest median tax bills are both reported at $775, indicating a relatively consistent range within the specified zip code of 72711. Compared to the national median property tax rate of 0.99%, Avoca's property taxes can be significantly lower, offering homeowners a more affordable living option while still contributing to local services and infrastructure.
Average Avoca Tax Bill
$775
Average Benton County Tax Bill
$2,090
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Avoca, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72711 | $268 | $521 | $775 | $1,166 | $1,728 |
Source: Ownwell