Mc Crory, Arkansas Property Taxes
The median property tax rate in Mc Crory, AR is 0.92%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Mc Crory at $39,675, the typical annual property tax bill is $267, significantly lower than the national median of $2,690. Property taxes in Mc Crory are calculated based on the assessed value, which is often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Mc Crory'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 Mc Crory or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Crory, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$365
$339
Ownwell’s MC CRORY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC CRORY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC CRORY 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 Mc Crory, Arkansas
Property taxes in Mc Crory, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Crory is 0.92%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Mc Crory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Crory 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 Mc Crory's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72101 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Mc Crory 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 Mc Crory 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 Mc Crory, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72101 | 0.22% | 0.48% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Mc Crory, Arkansas
In Mc Crory, 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 Mc Crory, 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 Mc Crory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $267 in the zip code 72101.
Average Mc Crory Assessed Value
$39,675
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 Mc Crory, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72101 | $13,165 | $21,038 | $39,675 | $70,500 | $109,780 |
Source: Ownwell
Property Tax Bills Across Mc Crory, Arkansas
In Mc Crory, 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 Mc Crory is $39,675. Homeowners' tax bills are influenced by various factors, including the assessed value of their property and the local tax rate. In this region, the tax bill for the 25th percentile is $121, while for the 75th percentile, it is $612, and for the 90th percentile, it reaches $978. These figures show a significant range in property tax bills, reflecting differences in property values and possibly the application of exemptions or other adjustments. The highest median tax bill recorded in the area is $267, which is still considerably lower than the national median property tax rate of 0.99%. This relatively lower tax burden can be beneficial for homeowners, making Mc Crory an appealing option for those looking to manage their property expenses effectively.
Average Mc Crory Tax Bill
$267
Average Jackson County Tax Bill
$308
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Crory, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72101 | $44 | $121 | $267 | $612 | $978 |
Source: Ownwell