Glencoe, Arkansas Property Taxes
The median property tax rate in Glencoe, AR is 0.73%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $68,300 in Glencoe, the typical annual property tax bill is approximately $433, significantly below the national median of $2,690. Property taxes in Glencoe are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Glencoe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Glencoe or another part of Fulton County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glencoe, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$499
-$5,225
Ownwell’s Glencoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glencoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glencoe 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 Glencoe, Arkansas
Property taxes in Glencoe, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glencoe is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Glencoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glencoe 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 Glencoe's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72539 zip code has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Glencoe 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 Glencoe Tax Rate
0.73%
Average Fulton County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glencoe, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72539 | 0.50% | 0.63% | 0.73% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Glencoe, Arkansas
In Glencoe, 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 Fulton County Assessor 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 Glencoe, 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 Glencoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Glencoe are both $433 in zip code 72539.
Average Glencoe Assessed Value
$68,300
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 Glencoe, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72539 | $20,070 | $36,850 | $68,300 | $107,612 | $147,685 |
Source: Ownwell
Property Tax Bills Across Glencoe, Arkansas
In Glencoe, located in Fulton County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, the median home price in Glencoe is $68,300. To determine the property tax bill, this assessed value is multiplied by the local tax rate. In this area, the tax rate can result in varying bills, with the 25th percentile paying around $242, the 75th percentile paying approximately $757, and the 90th percentile reaching up to $1,014. These tax bills are influenced by several factors, including the home's assessed value, local tax rates, and any exemptions the homeowner might qualify for. Compared to the national median property tax rate of 0.99%, homeowners in Glencoe may find their tax bills to be relatively manageable. However, these taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the community and homeowners' quality of life.
Average Glencoe Tax Bill
$433
Average Fulton County Tax Bill
$483
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Glencoe, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72539 | $141 | $242 | $433 | $757 | $1,014 |
Source: Ownwell