Winslow, Arkansas Property Taxes
The median property tax rate in Winslow, AR is 0.19%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Winslow at $54,400, the typical annual property tax bill is just $102, far below the national median of $2,690. Property taxes in Winslow are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Winslow'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 Winslow 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
Winslow, 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 Winslow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winslow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winslow 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 Winslow, Arkansas
Property taxes in Winslow, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winslow is 0.42%, which is significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Winslow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winslow 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 Winslow's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72201 has the highest median property tax rate of 1.00%, while the zip code 71601 has the lowest median tax rate of 0.30%. Understanding how these cities compare with Winslow provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winslow Tax Rate
0.19%
Average Franklin County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winslow, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72959 | 0.10% | 0.13% | 0.19% | 0.55% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Winslow, Arkansas
In Winslow, 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 local authorities 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 Winslow, 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 Winslow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72959 in Winslow has the highest median tax bill at $102.
Average Winslow Assessed Value
$54,400
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 Winslow, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72959 | $40,560 | $45,750 | $54,400 | $58,750 | $61,360 |
Source: Ownwell
Property Tax Bills Across Winslow, Arkansas
In Winslow, Franklin County, AR, property tax bills are calculated based on the assessed value of a property, which is typically a fraction of the market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $54,400, the property tax bill can vary significantly across different percentiles. At the 25th percentile, homeowners might pay around $76, while at the 75th percentile, the tax bill could rise to approximately $219. For those at the 90th percentile, the tax bill can reach up to $290. These variations are influenced by factors such as property location, improvements, and local tax rates. Compared to the national median property tax rate of 0.99%, homeowners in Winslow may find their property tax bills relatively manageable. Understanding these factors can help homeowners anticipate their annual costs and plan their finances accordingly.
Average Winslow Tax Bill
$102
Average Franklin County Tax Bill
$476
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Winslow, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72959 | $61 | $76 | $102 | $219 | $290 |
Source: Ownwell