Subiaco, Arkansas Property Taxes
The median property tax rate in Subiaco, 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 of $85,950, the typical annual property tax bill in Subiaco is $732, which is significantly lower than the national median of $2,690. Property taxes in Subiaco are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Subiaco'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 Subiaco 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
Subiaco, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$791
Ownwell’s Subiaco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Subiaco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Subiaco 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 Subiaco, Arkansas
Property taxes in Subiaco, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Subiaco is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Subiaco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Subiaco 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 Subiaco's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72865 zip code has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with Subiaco provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Subiaco Tax Rate
0.92%
Average Logan County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Subiaco, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72865 | 0.69% | 0.84% | 0.92% | 0.92% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Subiaco, Arkansas
In Subiaco, 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 Logan County Assessor 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 Subiaco, 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 Subiaco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Subiaco is $732 in the 72865 zip code, which is also where the lowest median tax bill is found.
Average Subiaco Assessed Value
$85,950
Average Logan County Assessed Value
$67,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Subiaco, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72865 | $26,850 | $51,250 | $85,950 | $125,800 | $179,400 |
Source: Ownwell
Property Tax Bills Across Subiaco, Arkansas
In Subiaco, Logan County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county uses an assessment ratio to determine this value, typically a fraction of the market price. For instance, with a median home price of $85,950, the assessed value would be a portion of this figure. The property tax rate is then applied to the assessed value to calculate the tax owed. Several factors influence the final tax bill, including the property's location, its market value, and any applicable exemptions or deductions. Tax bills in Subiaco can vary significantly, with the 25th percentile paying around $413, while those in the 90th percentile may see bills as high as $1,535. This range indicates how property values and assessments can impact homeowners differently. Compared to the national median property tax rate of 0.99%, Subiaco's tax bills reflect the local economic conditions and property values, affecting homeowners' financial planning and budgeting.
Average Subiaco Tax Bill
$732
Average Logan County Tax Bill
$602
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Subiaco, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72865 | $227 | $413 | $732 | $1,134 | $1,535 |
Source: Ownwell