Alix, Arkansas Property Taxes
The median property tax rate in Alix, AR is 0.10%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Alix, the typical annual property tax bill is $64, far below the national median of $2,690. Property taxes in Alix 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 Alix'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 Alix 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
Alix, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.1%
Estimate Property Tax Bill
$62
Ownwell’s ALIX Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ALIX with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ALIX 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 Alix, Arkansas
Property taxes in Alix, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alix is 0.54%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Alix set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alix 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 Alix's effective property tax rate to other counties in Arkansas and the national median. For comparison, 72949 has the highest median property tax rate of 0.61%, while 72930 has the lowest median tax rate of 0.54%. Understanding how these cities compare with Alix provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alix Tax Rate
0.10%
Average Franklin County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alix, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72820 | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Source: Ownwell
Property Tax Assessment Values Across Alix, Arkansas
In Alix, 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 Franklin 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 Alix, 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 Alix helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Alix is $62,350, with tax bills ranging from $64 at the 25th percentile to $64 at the 90th percentile, indicating a relatively uniform tax burden across the area.
Average Alix Assessed Value
$62,350
Average Franklin County Assessed Value
$75,300
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alix, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72820 | $62,350 | $62,350 | $62,350 | $62,350 | $62,350 |
Source: Ownwell
Property Tax Bills Across Alix, Arkansas
In Alix, Franklin County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Alix is $62,350, which serves as a baseline for determining property taxes. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, homeowners in the 25th, 75th, and 90th percentiles all see a tax bill of $64, indicating a relatively consistent tax burden across different property values. Several factors influence the assessed value, including the home's condition, location, and any improvements made. This assessed value is then multiplied by the local tax rate to determine the final tax bill. Compared to the national median property tax rate of 0.99%, Alix homeowners experience a lower tax burden, making it an attractive area for property investment. However, even with lower taxes, it’s crucial for homeowners to stay informed about any changes in local tax rates or property assessments that could impact their annual tax bills.
Average Alix Tax Bill
$64
Average Franklin County Tax Bill
$476
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Alix, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72820 | $64 | $64 | $64 | $64 | $64 |
Source: Ownwell