Maysville, Arkansas Property Taxes
The median property tax rate in Maysville, AR is 0.67%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $146,150 in Maysville, the typical annual property tax bill amounts to $1,018, which is below the national median of $2,690. Property taxes in Maysville are determined based on the tax assessed value, which is generally less than the market value due to exemptions like those for primary residences and agricultural properties. Grasping Maysville'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 Maysville or another part of Benton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maysville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$979
Ownwell’s Maysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maysville 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 Maysville, Arkansas
Property taxes in Maysville, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maysville is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Maysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maysville 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 Maysville's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72747 has both the highest and lowest median property tax rate of 0.67%. Understanding how these areas compare with Maysville 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 Maysville Tax Rate
0.67%
Average Benton County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maysville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72747 | 0.57% | 0.62% | 0.67% | 0.76% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Maysville, Arkansas
In Maysville, 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 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 Maysville, 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 Maysville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both $1,018, found in zip code 72747.
Average Maysville Assessed Value
$146,150
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 Maysville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72747 | $61,870 | $98,350 | $146,150 | $264,100 | $352,552 |
Source: Ownwell
Property Tax Bills Across Maysville, Arkansas
In Maysville, Benton County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Maysville is $146,150. The tax rate is applied to this assessed value to determine the annual property tax bill. Homeowners in Maysville can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $652, while at the 75th percentile, it reaches $1721. At the 90th percentile, homeowners might see a tax bill as high as $2349. These figures indicate how property taxes can fluctuate based on property values and other factors like local tax rates. Compared to the national median property tax rate of 0.99%, Maysville's property tax rates reflect the local economic conditions and funding needs. This variability in tax bills affects homeowners differently, impacting their annual financial planning and long-term investment in their properties.
Average Maysville Tax Bill
$1,018
Average Benton County Tax Bill
$2,090
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Maysville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72747 | $453 | $652 | $1,018 | $1,721 | $2,349 |
Source: Ownwell