Little Flock, Arkansas Property Taxes
The median property tax rate in Little Flock, AR is 1.14%, considerably higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Little Flock at $317,050, the typical annual property tax bill reaches $3,365, exceeding the national median of $2,690. Property taxes in Little Flock are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Little Flock'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 Little Flock 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
Little Flock, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$3,614
$3,354
Ownwell’s Little Flock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Little Flock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little Flock 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 Little Flock, Arkansas
Property taxes in Little Flock, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Little Flock is 1.14%, which is higher than the U.S. national median of 0.99%. Local government entities within Little Flock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Flock 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 Little Flock's effective property tax rate to other areas in Benton County and the national median. For comparison, the 72756 zip code has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these areas compare with Little Flock 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 Little Flock Tax Rate
1.14%
Average Benton County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Little Flock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72756 | 1.08% | 1.10% | 1.14% | 1.18% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Little Flock, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Little Flock, 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 Little Flock, 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 the area is $3365 in zip code 72756, while the lowest median tax bill is also $3365 in the same zip code. Being aware of these valuation processes in Little Flock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Little Flock Assessed Value
$317,050
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 Little Flock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72756 | $68,010 | $161,400 | $317,050 | $472,700 | $566,090 |
Source: Ownwell
Property Tax Bills Across Little Flock, Arkansas
In Little Flock, Benton County, AR, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. Home assessments are typically a percentage of the market value, with various factors such as property size, location, and improvements influencing the assessed value. For example, the median home price in Little Flock stands at $317,050. Homeowners in Little Flock can expect varying tax bills depending on their property's assessed value. The tax bill for the 25th percentile is around $1,718, while the 75th percentile sees tax bills of approximately $5,013. At the 90th percentile, tax bills rise to about $6,001. Comparatively, the median property tax rate nationally is 0.99%, which can provide a benchmark for evaluating local tax rates. Understanding these factors helps homeowners anticipate their yearly tax obligations and plan accordingly. The highest and lowest median tax bills in the area both stand at $3,365, providing a consistent figure for comparison within Benton County.
Average Little Flock Tax Bill
$3,365
Average Benton County Tax Bill
$2,090
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Little Flock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72756 | $729 | $1,718 | $3,365 | $5,013 | $6,001 |
Source: Ownwell