Marianna, Arkansas Property Taxes
The median property tax rate in Marianna, AR is 0.67%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Marianna at $40,900, the typical annual property tax bill reaches $284, significantly below the national median of $2,690. Property taxes in Marianna 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 Marianna'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 Marianna 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
Marianna, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$274
Ownwell’s Marianna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marianna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marianna 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 Marianna, Arkansas
Property taxes in Marianna, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marianna is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Marianna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marianna 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 Marianna's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72360 has both the highest and lowest median property tax rate of 0.67%. Understanding how these cities compare with Marianna provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marianna Tax Rate
0.67%
Average Lee County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marianna, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72360 | 0.60% | 0.67% | 0.67% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Marianna, Arkansas
In Marianna, 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 Lee 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 Marianna, 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 Marianna helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Marianna is 72360, with a median tax bill of $284.00.
Average Marianna Assessed Value
$40,900
Average Lee County Assessed Value
$41,075
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marianna, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72360 | $6,730 | $19,400 | $40,900 | $68,550 | $115,600 |
Source: Ownwell
Property Tax Bills Across Marianna, Arkansas
In Marianna, located in Lee County, 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 Marianna is $40,900. Property tax rates and the assessed value of properties play significant roles in determining the tax bill. Homeowners in Marianna can expect their tax bills to vary significantly; for example, the 25th percentile tax bill is $142, while the 75th percentile tax bill is $482. At the 90th percentile, the tax bill can reach up to $781. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Marianna's property taxes can be relatively lower, making it an attractive option for homeowners looking for affordability in property taxes.
Average Marianna Tax Bill
$284
Average Lee County Tax Bill
$285
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Marianna, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72360 | $52 | $142 | $284 | $482 | $781 |
Source: Ownwell