Marked Tree, Arkansas Property Taxes
The median property tax rate in Marked Tree, AR is 0.86%, which is slightly below the national median of 0.99% but marginally higher than the Arkansas state median of 0.84%. With a median home value in Marked Tree of $55,400, the typical annual property tax bill is $414, significantly lower than the national median of $2,690. Property taxes in Marked Tree are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Marked Tree'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 Marked Tree 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
Marked Tree, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$476
Ownwell’s Marked Tree Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marked Tree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marked Tree 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 Marked Tree, Arkansas
Property taxes in Marked Tree, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marked Tree is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Marked Tree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marked Tree 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. Understanding how Marked Tree's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Poinsett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marked Tree Tax Rate
0.86%
Average Poinsett County Tax Rate
0.79%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marked Tree, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72365 | 0.58% | 0.72% | 0.86% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Marked Tree, Arkansas
In Marked Tree, 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 Poinsett 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 Marked Tree, 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. With a median home price of $55,400, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $226, while the 75th percentile reaches $686, and the 90th percentile hits $1,192. Interestingly, the highest and lowest median tax bills are both $414 in the 72365 zip code. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marked Tree Assessed Value
$55,400
Average Poinsett County Assessed Value
$65,250
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marked Tree, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72365 | $11,950 | $28,450 | $55,400 | $87,600 | $137,680 |
Source: Ownwell
Property Tax Bills Across Marked Tree, Arkansas
In Marked Tree, property tax bills are calculated based on the assessed value of the property, which is determined by the Poinsett County Assessor's Office. The assessed value is a percentage of the property's market value. For homeowners, several factors influence the final tax bill, including the local tax rate and any applicable exemptions. The median home price in Marked Tree is $55,400, and the property tax rate in the area is relatively low compared to the national median of 0.99%. Homeowners in the 25th percentile pay around $226 annually, while those in the 75th percentile face a tax bill of approximately $686. At the 90th percentile, the tax bill can reach up to $1,192. These property taxes contribute to essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding how these bills are calculated can help in financial planning and ensuring that they are not overpaying.
Average Marked Tree Tax Bill
$414
Average Poinsett County Tax Bill
$472
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Marked Tree, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72365 | $103 | $226 | $414 | $686 | $1,192 |
Source: Ownwell