Vilonia, Arkansas Property Taxes
The median property tax rate in Vilonia, AR is 0.96%, 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 $142,050 in Vilonia, the typical annual property tax bill is approximately $1,323, which is below the national median of $2,690. Property taxes in Vilonia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Vilonia'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 Vilonia 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
Vilonia, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,364
Ownwell’s Vilonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vilonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vilonia 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 Vilonia, Arkansas
Property taxes in Vilonia, Arkansas, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Vilonia is 0.96%, which is slightly below the U.S. national median of 0.99%. Local government entities within Vilonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vilonia 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 Vilonia's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72173 has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Vilonia 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 Vilonia Tax Rate
0.96%
Average Faulkner County Tax Rate
0.96%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vilonia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72173 | 0.71% | 0.89% | 0.96% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Vilonia, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Vilonia, Arkansas. The market value represents 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 Vilonia, 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 Vilonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Vilonia is found in zip code 72173, amounting to $1,323.
Average Vilonia Assessed Value
$142,050
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 Vilonia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72173 | $38,995 | $84,138 | $142,050 | $203,225 | $293,140 |
Source: Ownwell
Property Tax Bills Across Vilonia, Arkansas
In Vilonia, located in Faulkner County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Factors influencing the tax bill include the home's assessed value, local millage rates, and any applicable exemptions or deductions. For instance, a home with a median price of $142,050 can expect a tax bill ranging widely, with the 25th percentile at $711 and the 75th percentile reaching up to $1,918. Even at the 90th percentile, homeowners might see a tax bill as high as $2,753. This variability highlights the significant impact of property taxes on homeowners, affecting their annual budgeting and long-term financial planning. In comparison, the national median property tax rate is 0.99%, illustrating how local rates and assessed values can lead to substantial differences in tax obligations.
Average Vilonia Tax Bill
$1,323
Average Faulkner County Tax Bill
$1,390
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Vilonia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72173 | $337 | $711 | $1,323 | $1,918 | $2,753 |
Source: Ownwell