Jacksonville, Arkansas Property Taxes
The median property tax rate in Jacksonville, AR is 0.98%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $78,850 in Jacksonville, the typical annual property tax bill amounts to $708, which is significantly lower than the national median of $2,690. Property taxes in Jacksonville are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Jacksonville'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 Jacksonville 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
Jacksonville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$773
Ownwell’s Jacksonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jacksonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jacksonville 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 Jacksonville, Arkansas
Property taxes in Jacksonville, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jacksonville is 0.98%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Jacksonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jacksonville 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 Jacksonville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72076 zip code 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 cities compare with Jacksonville 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 Jacksonville 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 Jacksonville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72076 | 0.73% | 0.85% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Jacksonville, Arkansas
In Jacksonville, 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. In Jacksonville, 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 Jacksonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Jacksonville is $78,850, with the highest median tax bill found in the 72076 zip code at $708.
Average Jacksonville Assessed Value
$78,850
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 Jacksonville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72076 | $22,985 | $38,125 | $78,850 | $124,400 | $206,590 |
Source: Ownwell
Property Tax Bills Across Jacksonville, Arkansas
In Jacksonville, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the Faulkner County assessor. The assessed value is typically a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the annual property tax bill. For example, the median home price in Jacksonville is $78,850, and the property tax rate in Faulkner County is around 0.9%, which is slightly lower than the national median of 0.99%. Tax bills can vary significantly within the city. The 25th percentile tax bill is approximately $344, while the 75th percentile tax bill reaches about $1,098. At the 90th percentile, homeowners can expect to pay around $1,955. These variations are influenced by factors such as property location, home improvements, and market fluctuations. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual expenses and overall affordability.
Average Jacksonville Tax Bill
$708
Average Faulkner County Tax Bill
$1,390
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Jacksonville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72076 | $205 | $344 | $708 | $1,098 | $1,955 |
Source: Ownwell