Alpena, Arkansas Property Taxes
The median property tax rate in Alpena, AR is 0.78%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $71,950 in Alpena, the typical annual property tax bill amounts to $551, significantly less than the national median of $2,690. Property taxes in Alpena are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Alpena'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 Alpena or another part of Boone County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alpena, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$561
Ownwell’s Alpena Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alpena with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alpena 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 Alpena, Arkansas
Property taxes in Alpena, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alpena is 0.52%, lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Alpena set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alpena 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 Alpena's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72611 zip code has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Alpena provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alpena Tax Rate
0.78%
Average Boone County Tax Rate
0.89%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alpena, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72611 | 0.58% | 0.69% | 0.78% | 0.78% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Alpena, Arkansas
In Alpena, 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 Boone 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 Alpena, 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 Alpena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72611, with a median tax bill of $551.00.
Average Alpena Assessed Value
$71,950
Average Boone County Assessed Value
$102,750
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alpena, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72611 | $14,800 | $40,000 | $71,950 | $131,650 | $194,400 |
Source: Ownwell
Property Tax Bills Across Alpena, Arkansas
Property tax bills in Alpena, Boone County, AR are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value typically represents a percentage of the property's market value. For homeowners in Alpena, the median home price is $71,950. The property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, improvements made, and any applicable exemptions. For instance, the tax bill at the 25th percentile is $314, while at the 75th percentile, it reaches $918. At the 90th percentile, homeowners might see tax bills as high as $1,431. These variations reflect differences in property values and specific circumstances of each property. Compared to the national median property tax rate of 0.99%, Alpena's property tax bills are relatively modest. This can be a significant advantage for homeowners, making it a more affordable place to own property while still contributing to local public services and infrastructure.
Average Alpena Tax Bill
$551
Average Boone County Tax Bill
$870
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Alpena, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72611 | $124 | $314 | $551 | $918 | $1,431 |
Source: Ownwell