Rison, Arkansas Property Taxes
The median property tax rate in Rison, Arkansas 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 Rison at $62,825, the typical annual property tax bill comes to $554, which is significantly below the national median of $2,690. Property taxes in Rison are based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Rison's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you reside in the heart of Rison or another part of Cleveland County, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rison, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$578
Ownwell’s Rison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rison 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 Rison, Arkansas
Property taxes in Rison, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rison is 0.92%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Rison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rison 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 Rison's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71665 has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Rison provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rison Tax Rate
0.92%
Average Cleveland County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rison, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71665 | 0.66% | 0.87% | 0.92% | 0.94% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Rison, Arkansas
In Rison, 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 Cleveland County Assessor's Office 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 Rison, 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. For example, the highest median tax bill in Rison is $554.00 in the 71665 zip code. 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 Rison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rison Assessed Value
$62,825
Average Cleveland County Assessed Value
$55,200
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rison, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71665 | $9,270 | $26,812 | $62,825 | $124,075 | $188,530 |
Source: Ownwell
Property Tax Bills Across Rison, Arkansas
In Rison, located in Cleveland County, AR, property tax bills are determined based on the assessed value of a home, which is calculated as a percentage of its market value. For homeowners in Rison, this means that the assessed value is derived from the median home price of $62,825. Property tax rates are applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including the property’s assessed value, local tax rates, and any applicable exemptions or deductions. For example, the 25th percentile tax bill in Rison is $263, while the 75th percentile tax bill is $1,040. In some cases, homeowners may see tax bills as high as $1,641, which represents the 90th percentile. These property tax bills can significantly impact homeowners, affecting their annual budget and overall financial planning. Compared to the national median property tax rate of 0.99%, Rison’s tax rates offer a unique perspective on property tax obligations in this region.
Average Rison Tax Bill
$554
Average Cleveland County Tax Bill
$492
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Rison, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71665 | $116 | $263 | $554 | $1,040 | $1,641 |
Source: Ownwell