Strawberry, Arkansas Property Taxes
The median property tax rate in Strawberry, Arkansas is 0.59%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Strawberry, the typical annual property tax bill reaches $522, significantly below the national median of $2,690. Property taxes in Strawberry are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Strawberry'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 Strawberry 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
Strawberry, 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 Strawberry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Strawberry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Strawberry 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 Strawberry, Arkansas
Property taxes in Strawberry, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Strawberry is 0.59%, significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Strawberry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Strawberry 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 Strawberry's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72469 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Strawberry provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Strawberry Tax Rate
0.59%
Average Lawrence County Tax Rate
0.63%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Strawberry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72469 | 0.40% | 0.49% | 0.59% | 0.70% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Strawberry, Arkansas
In Strawberry, 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 Lawrence 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 Strawberry, 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 Strawberry 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 both amount to $522.00 in the 72469 zip code.
Average Strawberry Assessed Value
$96,888
Average Lawrence County Assessed Value
$77,245
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Strawberry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72469 | $31,143 | $59,802 | $96,888 | $137,086 | $213,910 |
Source: Ownwell
Property Tax Bills Across Strawberry, Arkansas
In Strawberry, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in this area is $96,888. Property taxes are then applied to this assessed value using the local tax rate set by Lawrence County. Various factors, such as property size, location, and improvements, can influence the assessed value, and thus the final tax bill. Homeowners in Strawberry can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is approximately $324, while at the 75th percentile, it rises to around $868. For those at the 90th percentile, the tax bill can reach as high as $1,322. These figures illustrate the range of property tax bills homeowners might face, depending on their property’s assessed value. Comparatively, the highest and lowest median tax bills in the area are both $522, which aligns with the national median property tax rate of 0.99%, offering a balanced perspective for homeowners.
Average Strawberry Tax Bill
$522
Average Lawrence County Tax Bill
$469
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Strawberry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72469 | $171 | $324 | $522 | $868 | $1,322 |
Source: Ownwell