Greers Ferry, Arkansas Property Taxes
The median property tax rate in Greers Ferry, AR is 0.76%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Greers Ferry at $182,355, the typical annual property tax bill is approximately $969, significantly below the national median of $2,690. Property taxes in Greers Ferry are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Greers Ferry'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 Greers Ferry 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
Greers Ferry, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,386
Ownwell’s Greers Ferry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greers Ferry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greers Ferry 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 Greers Ferry, Arkansas
Property taxes in Greers Ferry, Arkansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greers Ferry is 0.76%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Greers Ferry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greers Ferry 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 Greers Ferry's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72067 zip code has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Greers Ferry provides valuable insights into the varying tax landscape across Cleburne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greers Ferry Tax Rate
0.76%
Average Cleburne County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greers Ferry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72067 | 0.37% | 0.68% | 0.76% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Greers Ferry, Arkansas
In Greers Ferry, 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 Cleburne 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 Greers Ferry, 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 Greers Ferry 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 area are both $969.00, found in zip code 72067.
Average Greers Ferry Assessed Value
$182,355
Average Cleburne County Assessed Value
$128,200
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greers Ferry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72067 | $20,124 | $49,170 | $182,355 | $268,470 | $331,874 |
Source: Ownwell
Property Tax Bills Across Greers Ferry, Arkansas
In Greers Ferry, located in Cleburne 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 Greers Ferry is approximately $182,355. Homeowners can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is around $356, while the 75th percentile reaches up to $1,732, and the 90th percentile can be as high as $2,610. Several factors contribute to the determination of a property tax bill, including the assessed value of the property, the local tax rate, and any applicable exemptions. These taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, homeowners in Greers Ferry might find their tax bills to be relatively moderate or high depending on their property's assessed value and applicable exemptions. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Greers Ferry Tax Bill
$969
Average Cleburne County Tax Bill
$753
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Greers Ferry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72067 | $141 | $356 | $969 | $1,732 | $2,610 |
Source: Ownwell