Fulton, Arkansas Property Taxes
The median property tax rate in Fulton, Arkansas is 0.41%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Fulton at $85,650, the typical annual property tax bill is $349, well below the national median of $2,690. Property taxes in Fulton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fulton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Fulton or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fulton, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$351
Ownwell’s Fulton Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fulton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Fulton to provide an estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making financial planning easier. For those interested in more localized trends, further neighborhood-specific information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Fulton, Arkansas
Property taxes in Fulton, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fulton is 0.41%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Fulton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fulton 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 Fulton's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71838 has both the highest and lowest median property tax rate of 0.41%. Understanding how these areas compare with Fulton provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fulton Tax Rate
0.41%
Average Miller County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fulton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71838 | 0.17% | 0.26% | 0.41% | 0.66% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Fulton, Arkansas
In Fulton, 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 local 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 Fulton, 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. The median home price in Fulton is $85,650, with tax bills ranging from $219 at the 25th percentile to $1,531 at the 90th percentile. The highest median tax bill in the area is found in ZIP code 71838, amounting to $349. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fulton Assessed Value
$85,650
Average Miller County Assessed Value
$80,350
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fulton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71838 | $82,330 | $83,575 | $85,650 | $143,850 | $178,770 |
Source: Ownwell
Property Tax Bills Across Fulton, Arkansas
In Fulton, AR, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is typically a percentage of the market value of the property. Homeowners in Fulton can expect their tax bills to be influenced by the local tax rate, which is applied to the assessed value. For instance, the median home price in Fulton is $85,650. The tax bill for properties in the 25th percentile is around $219, while those in the 75th percentile can see bills as high as $1,088. Properties in the 90th percentile may face tax bills up to $1,531. These variations in tax bills reflect differences in property values and the specific rates levied by local taxing authorities. Homeowners should be aware that higher property values generally result in higher tax bills, which can impact their overall cost of living. Compared to the national median property tax rate of 0.99%, Fulton’s rates offer a range that can be more or less favorable depending on individual circumstances.
Average Fulton Tax Bill
$349
Average Miller County Tax Bill
$630
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Fulton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71838 | $141 | $219 | $349 | $1,088 | $1,531 |
Source: Ownwell