Bradford, Arkansas Property Taxes
The median property tax rate in Bradford, AR is 0.92%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value in Bradford of $34,600, the typical annual property tax bill is $196, significantly lower than the national median of $2,690. Property taxes in Bradford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bradford'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 Bradford 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
Bradford, 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 Bradford Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bradford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradford 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 Bradford, Arkansas
Property taxes in Bradford, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradford is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Bradford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradford 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 Bradford's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72020 has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with Bradford provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradford Tax Rate
0.92%
Average Jackson County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradford, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72020 | 0.10% | 0.33% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Bradford, Arkansas
In Bradford, 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 Jackson 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 Bradford, 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. Understanding the distinction between these valuation concepts helps property owners navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Bradford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill is 72020, both valued at $196.
Average Bradford Assessed Value
$34,600
Average Jackson County Assessed Value
$45,225
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bradford, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72020 | $8,000 | $16,200 | $34,600 | $63,788 | $105,820 |
Source: Ownwell
Property Tax Bills Across Bradford, Arkansas
In Bradford, located in Jackson County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For example, with a median home price of $34,600, homeowners can expect their property tax bill to vary significantly. Factors such as the home's location, size, and any applicable exemptions are considered in determining the final tax amount. The tax bill can range widely, with the 25th percentile seeing bills around $83, while the 75th percentile can experience bills up to $420. At the higher end, the 90th percentile may face tax bills of approximately $752. Bradford's property tax rate is relatively modest compared to the national median property tax rate of 0.99%, making it a more affordable location for homeowners. This variability in tax bills underscores the importance of understanding local property tax assessments and how they impact overall homeownership costs.
Average Bradford Tax Bill
$196
Average Jackson County Tax Bill
$308
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradford, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72020 | $28 | $83 | $196 | $420 | $752 |
Source: Ownwell