Greenville, Arkansas Property Taxes
The median property tax rate in Greenville, Arkansas is 0.92%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Greenville at $98,900, the typical annual property tax bill is $910, which is significantly lower than the national median of $2,690. Property taxes in Greenville are calculated based on the tax assessed value, generally lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Greenville'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 Greenville 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
Greenville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$910
Ownwell’s Greenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenville 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 Greenville, Arkansas
Property taxes in Greenville, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenville is 0.92%, which is lower than the U.S. national median of 0.99%. Local government entities within Greenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenville 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 Greenville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 38701 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Greenville 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 Greenville 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 Greenville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38701 | 0.92% | 0.92% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Greenville, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Greenville, 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 Chicot 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 Greenville, 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 Greenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Greenville, the highest and lowest median tax bills are both $910, found in the 38701 zip code.
Average Greenville Assessed Value
$98,900
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 Greenville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38701 | $98,900 | $98,900 | $98,900 | $98,900 | $98,900 |
Source: Ownwell
Property Tax Bills Across Greenville, Arkansas
In Greenville, Chicot County, AR, property tax bills are calculated by assessing the value of a property and applying the local tax rate to this assessed value. The median home price in Greenville is $98,900. Property taxes here are relatively straightforward, with the tax bill for the 25th, 75th, and 90th percentiles all being $910. This uniformity is reflected across different zip codes within the city, indicating a consistent approach to property taxation. To determine the tax bill, the local authorities first assess the market value of a property. This assessed value is then multiplied by the local tax rate to calculate the total tax bill. Homeowners in Greenville can expect their property taxes to be a predictable expense, which is beneficial for financial planning. Compared to the national median property tax rate of 0.99%, Greenville's property tax structure offers a clear and manageable framework for its residents. This consistency helps homeowners to anticipate their annual tax obligations with relative ease.
Average Greenville Tax Bill
$910
Average Chicot County Tax Bill
$342
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38701 | $910 | $910 | $910 | $910 | $910 |
Source: Ownwell