Camp, Arkansas Property Taxes
The median property tax rate in CAMP, AR is 0.75%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in CAMP at $60,400, the typical annual property tax bill is $385, significantly below the national median of $2,690. Property taxes in CAMP 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 CAMP’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 CAMP 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
Camp, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$453
$420
Ownwell’s CAMP Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CAMP with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CAMP 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 Camp, Arkansas
Property taxes in CAMP, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in CAMP is 0.75%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within CAMP set these rates annually, and they can vary significantly across different neighborhoods. Each year, CAMP 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 CAMP's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72520 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with CAMP provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Camp Tax Rate
0.75%
Average Fulton County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Camp, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72520 | 0.51% | 0.63% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Camp, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in CAMP, Arkansas. 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 Fulton 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 CAMP, 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. For instance, the median home price in CAMP is $60,400, with tax bills ranging from $205 at the 25th percentile to $912 at the 90th percentile. The zip code 72520 has both the highest and lowest median tax bill at $385. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Camp Assessed Value
$60,400
Average Fulton County Assessed Value
$68,050
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Camp, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72520 | $18,550 | $30,500 | $60,400 | $93,125 | $126,260 |
Source: Ownwell
Property Tax Bills Across Camp, Arkansas
In CAMP, located in Fulton County, AR, property taxes are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined by local assessors. For instance, with a median home price of $60,400, the assessed value is used to compute the tax bill. Factors such as property size, location, and any improvements made to the property can influence the assessed value. Homeowners in CAMP can expect a wide range of property tax bills. At the 25th percentile, the tax bill is around $205, while at the 75th percentile, it rises to about $661. The top 10% of property tax bills can reach up to $912. This variation means that while some homeowners might find their tax bills manageable, others could face a more significant financial burden. Comparatively, these figures are relatively modest when considering the national median property tax rate of 0.99%. However, the impact on homeowners can still be substantial, particularly for those on fixed incomes or with limited financial flexibility.
Average Camp Tax Bill
$385
Average Fulton County Tax Bill
$483
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Camp, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72520 | $119 | $205 | $385 | $661 | $912 |
Source: Ownwell