Stephens, Arkansas Property Taxes
The median property tax rate in Stephens, Arkansas is 0.75%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $38,100 in Stephens, the typical annual property tax bill amounts to $293, significantly below the national median of $2,690. Property taxes in Stephens are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding the property tax system in Stephens, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Stephens or in another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stephens, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$286
Ownwell’s Stephens Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Stephens with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Stephens to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Stephens, Arkansas
Property taxes in Stephens, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stephens is 0.44%, which is lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Stephens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stephens 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 Stephens' effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71764 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Stephens provides valuable insights into the varying tax landscape across Columbia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stephens Tax Rate
0.75%
Average Columbia County Tax Rate
0.78%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stephens, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71764 | 0.62% | 0.75% | 0.75% | 0.75% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Stephens, Arkansas
In Stephens, 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 Columbia 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 Stephens, 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 Stephens 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 $293.00, found in the 71764 zip code.
Average Stephens Assessed Value
$38,100
Average Columbia County Assessed Value
$50,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stephens, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71764 | $6,975 | $18,638 | $38,100 | $74,188 | $122,850 |
Source: Ownwell
Property Tax Bills Across Stephens, Arkansas
In Stephens, AR, property tax bills are determined by assessing the value of your home and applying the local tax rate. The median home price in Stephens is $38,100. To calculate the tax bill, the assessed value of the property is multiplied by the tax rate set by local authorities. This assessed value is a percentage of the market value, which varies by jurisdiction. Several factors influence the final tax bill, including property location, home improvements, and any applicable exemptions. For example, the 25th percentile of tax bills in Stephens is $146, while the 75th percentile reaches $580, and the 90th percentile can be as high as $1,084. These figures highlight the variability in property tax bills based on individual property characteristics and local tax policies. Homeowners in Stephens should be aware that their property tax bill can significantly impact their annual expenses. With the highest median tax bill in the area at $293, understanding how these taxes are calculated can help homeowners plan their finances more effectively.
Average Stephens Tax Bill
$293
Average Columbia County Tax Bill
$400
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Stephens, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71764 | $70 | $146 | $293 | $580 | $1,084 |
Source: Ownwell