Eudora, Arkansas Property Taxes
The median property tax rate in Eudora, AR is 0.92%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Eudora at $24,450, the typical annual property tax bill comes to $236, well below the national median of $2,690. Property taxes in Eudora are based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Eudora'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 Eudora 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
Eudora, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Eudora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eudora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eudora 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 Eudora, Arkansas
Property taxes in Eudora, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eudora is 0.52%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Eudora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eudora 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 Eudora's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in Chicot County is 0.52%, while the lowest median tax rate is also 0.52%. Understanding how these cities compare with Eudora provides valuable insights into the varying tax landscape across Chicot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eudora Tax Rate
0.92%
Average Chicot County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eudora, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71640 | 0.68% | 0.87% | 0.92% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Eudora, Arkansas
In Eudora, 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 Chicot County Assessor 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 Eudora, 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 Eudora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $236.00, found in the 71640 zip code.
Average Eudora Assessed Value
$24,450
Average Chicot County Assessed Value
$35,600
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eudora, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71640 | $4,500 | $12,062 | $24,450 | $47,050 | $88,690 |
Source: Ownwell
Property Tax Bills Across Eudora, Arkansas
In Eudora, AR, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Factors such as the property's location, size, and condition are considered in this assessment. Once the assessed value is determined, the local tax rate is applied to calculate the tax bill. For homeowners in Eudora, the tax bill can vary significantly. The 25th percentile tax bill is $134, while the 75th percentile tax bill is $425, and the 90th percentile tax bill reaches $766. The median home price in Eudora is $24,450, which is relatively low compared to national averages. This lower market value contributes to the overall lower property tax bills in the area. However, even within Eudora, there are variations, with the highest and lowest median tax bills both being $236, depending on the specific zip code. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Eudora Tax Bill
$236
Average Chicot County Tax Bill
$342
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Eudora, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71640 | $75 | $134 | $236 | $425 | $766 |
Source: Ownwell