Center Ridge, Arkansas Property Taxes
The median property tax rate in Center Ridge, AR is 0.98%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $81,700 in Center Ridge, the typical annual property tax bill amounts to $804, which is significantly below the national median of $2,690. Property taxes in Center Ridge are calculated based on the assessed value, which is usually lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Center Ridge'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 Center Ridge 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
Center Ridge, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s CENTER RIDGE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CENTER RIDGE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CENTER RIDGE 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 Center Ridge, Arkansas
Property taxes in Center Ridge, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Center Ridge is 0.98%, which is slightly below the U.S. national median of 0.99%. Local government entities within Center Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Center Ridge 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 Center Ridge's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72027 has the highest median property tax rate of 0.98%, while the same zip code also has the lowest median tax rate of 0.98%. Understanding how these areas compare with Center Ridge provides valuable insights into the varying tax landscape across Faulkner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Center Ridge Tax Rate
0.98%
Average Faulkner County Tax Rate
0.96%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Center Ridge, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72027 | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Center Ridge, Arkansas
In Center Ridge, 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 Faulkner 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. 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 Center Ridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Center Ridge are both $804, with the zip code 72027 having the same value.
Average Center Ridge Assessed Value
$81,700
Average Faulkner County Assessed Value
$149,500
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Center Ridge, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72027 | $81,700 | $81,700 | $81,700 | $81,700 | $81,700 |
Source: Ownwell
Property Tax Bills Across Center Ridge, Arkansas
In Center Ridge, Faulkner County, AR, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Center Ridge is $81,700. Property taxes are influenced by the local tax rate and any applicable exemptions. The median property tax rate in Faulkner County is 0.99%, aligning with the national median. Homeowners in Center Ridge can expect their tax bills to be around $804, which is consistent across various percentiles, including the 25th, 75th, and 90th percentiles. This uniformity in tax bills indicates a stable tax environment. The property tax bill impacts homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated helps homeowners anticipate their annual financial obligations and budget accordingly.
Average Center Ridge Tax Bill
$804
Average Faulkner County Tax Bill
$1,390
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Center Ridge, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72027 | $804 | $804 | $804 | $804 | $804 |
Source: Ownwell