Bradley, Arkansas Property Taxes
The median property tax rate in Bradley, AR is 0.93%, slightly below the national median of 0.99% but above the Arkansas state median of 0.84%. With a median home value of $33,100 in Bradley, the typical annual property tax bill amounts to $235, which is significantly lower than the national median of $2,690. Property taxes in Bradley are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Bradley'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 Bradley or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bradley, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$308
Ownwell’s Bradley Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bradley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradley to provide an accurate estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, helping you plan your finances better. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Bradley, Arkansas
Property taxes in Bradley, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradley is 0.93%, which is slightly below the U.S. national median of 0.99%. Local government entities within Bradley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradley 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 Bradley's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71826 has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Bradley provides valuable insights into the varying tax landscape across Lafayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradley Tax Rate
0.93%
Average Lafayette County Tax Rate
0.93%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71826 | 0.22% | 0.57% | 0.93% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Bradley, Arkansas
In Bradley, 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 Lafayette 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 Bradley, 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. For instance, the highest median tax bill in Bradley is $235 in the 71826 zip code, while the lowest median tax bill is also $235 in the same zip code. 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 Bradley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bradley Assessed Value
$33,100
Average Lafayette County Assessed Value
$29,800
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bradley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71826 | $3,335 | $12,375 | $33,100 | $64,762 | $137,860 |
Source: Ownwell
Property Tax Bills Across Bradley, Arkansas
In Bradley, located in Lafayette County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. For instance, with a median home price of $33,100, the assessed value would be a fraction of this amount. The property tax rate is then applied to the assessed value to determine the tax bill. Several factors influence the final tax bill, including property location, local tax rates, and any eligible exemptions. In Bradley, the property tax bills vary significantly, with the 25th percentile at $71 and the 75th percentile at $594. Homeowners in the 90th percentile can expect to pay around $1,182, reflecting higher property values or fewer exemptions. These tax bills have a direct impact on homeowners, affecting their annual expenses and overall cost of homeownership. Comparing this to the national median property tax rate of 0.99%, Bradley's tax bills are relatively modest, offering some financial relief to its residents.
Average Bradley Tax Bill
$235
Average Lafayette County Tax Bill
$185
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71826 | $27 | $71 | $235 | $594 | $1,182 |
Source: Ownwell