Combs, Arkansas Property Taxes
The median property tax rate in Combs, Arkansas is 0.58%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Combs at $112,850, the typical annual property tax bill amounts to $668, which is well below the national median of $2,690. Property taxes in Combs are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Combs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Combs 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
Combs, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$655
$607
Ownwell’s Combs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Combs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Combs 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 Combs, Arkansas
Property taxes in Combs, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Combs is 0.58%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Combs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Combs 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 Combs's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72721 zip code has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Combs 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 Combs Tax Rate
0.58%
Average Franklin County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Combs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72721 | 0.36% | 0.50% | 0.58% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Combs, Arkansas
In Combs, 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 Combs, 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 Combs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72721 has the highest median tax bill at $668.00. The median home price in Combs is $112,850, with tax bills ranging from $359 at the 25th percentile to $963 at the 90th percentile.
Average Combs Assessed Value
$112,850
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 Combs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72721 | $40,000 | $58,625 | $112,850 | $128,550 | $167,000 |
Source: Ownwell
Property Tax Bills Across Combs, Arkansas
In Combs, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Combs can expect their tax bills to vary significantly depending on the value of their homes. For instance, the median home price in Combs is $112,850, and the tax bill at the 25th percentile is $359, rising to $848 at the 75th percentile, and reaching $963 at the 90th percentile. These figures illustrate the range of property tax obligations within the city. Compared to the national median property tax rate of 0.99%, Combs' property taxes can be considered relatively moderate. Homeowners should be aware that higher-valued properties will incur higher tax bills, which can impact their overall cost of homeownership. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax expenses.
Average Combs Tax Bill
$668
Average Franklin County Tax Bill
$476
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Combs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72721 | $208 | $359 | $668 | $848 | $963 |
Source: Ownwell