Success, Arkansas Property Taxes
The median property tax rate in SUCCESS, AR is 0.77%, lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in SUCCESS, the typical annual property tax bill amounts to $376, significantly below the national median of $2,690. Property taxes in SUCCESS are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding SUCCESS'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 SUCCESS 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
Success, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$396
Ownwell’s SUCCESS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SUCCESS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SUCCESS 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 Success, Arkansas
Property taxes in SUCCESS, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in SUCCESS is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within SUCCESS set these rates annually, and they can vary significantly across different neighborhoods. Each year, SUCCESS 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 SUCCESS's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72470 has both the highest and lowest median property tax rate of 0.77%. Understanding how these cities compare with SUCCESS provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Success Tax Rate
0.77%
Average Clay County Tax Rate
0.78%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Success, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72470 | 0.38% | 0.51% | 0.77% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Success, Arkansas
In SUCCESS, 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 Clay 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 SUCCESS, 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 SUCCESS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72470 has the highest median tax bill at $376, which is also the lowest median tax bill in the area.
Average Success Assessed Value
$51,475
Average Clay County Assessed Value
$59,500
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Success, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72470 | $2,395 | $16,775 | $51,475 | $106,162 | $185,655 |
Source: Ownwell
Property Tax Bills Across Success, Arkansas
In SUCCESS, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For homeowners in Clay County, the median home price is $51,475. Property tax bills can vary widely, with the 25th percentile bill at $129 and the 75th percentile bill at $741. The 90th percentile tax bill can reach up to $1,425, indicating a significant range depending on property values and specific exemptions. Several factors influence the final tax bill, including the property's location within specific taxing jurisdictions, any applicable exemptions, and the local tax rate. The highest median tax bill in the area is $376, found in the 72470 zip code. These property taxes contribute to essential public services such as schools, infrastructure, and emergency services, impacting the overall quality of life for homeowners. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Success Tax Bill
$376
Average Clay County Tax Bill
$445
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Success, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72470 | $59 | $129 | $376 | $741 | $1,425 |
Source: Ownwell