Mt Pleasant, Arkansas Property Taxes
The median property tax rate in MT PLEASANT, AR is 0.97%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $24,500, the typical annual property tax bill in MT PLEASANT is $120, significantly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding MT PLEASANT'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 MT PLEASANT or another part of Izard County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mt Pleasant, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$238
Ownwell’s MT PLEASANT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MT PLEASANT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MT PLEASANT 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 Mt Pleasant, Arkansas
Property taxes in MT PLEASANT, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MT PLEASANT is 0.97%, which is just below the U.S. national median of 0.99%. Local government entities within MT PLEASANT set these rates annually, and they can vary significantly across different neighborhoods. Each year, MT PLEASANT 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 MT PLEASANT's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72561 zip code has the highest median property tax rate of 0.97%, while the 72561 zip code also has the lowest median tax rate of 0.97%. Understanding how these areas compare with MT PLEASANT provides valuable insights into the varying tax landscape across Izard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mt Pleasant Tax Rate
0.97%
Average Izard County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mt Pleasant, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72561 | 0.23% | 0.59% | 0.97% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Mt Pleasant, Arkansas
In MT PLEASANT, 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 Izard 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 MT PLEASANT, 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 MT PLEASANT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72561 has both the highest and lowest median tax bill, which is $120.
Average Mt Pleasant Assessed Value
$24,500
Average Izard County Assessed Value
$60,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mt Pleasant, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72561 | $6,350 | $9,350 | $24,500 | $51,050 | $78,350 |
Source: Ownwell
Property Tax Bills Across Mt Pleasant, Arkansas
In Mt. Pleasant, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $24,500. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as location, property size, and any applicable exemptions can influence the assessed value and, consequently, the tax bill. For homeowners in Mt. Pleasant, the property tax burden can vary significantly. For example, the tax bill at the 25th percentile is $69, while at the 75th percentile, it reaches $295. At the 90th percentile, homeowners might see a tax bill as high as $915. Comparatively, the national median property tax rate is 0.99%, highlighting that Mt. Pleasant's property tax rates can be relatively modest. Understanding these factors is crucial for homeowners as it directly impacts their annual financial planning and the overall affordability of owning property in this region.
Average Mt Pleasant Tax Bill
$120
Average Izard County Tax Bill
$375
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mt Pleasant, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72561 | $32 | $69 | $120 | $295 | $915 |
Source: Ownwell