Biscoe, Arkansas Property Taxes
The median property tax rate in Biscoe, AR is 0.88%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $29,950, the typical annual property tax bill in Biscoe is $187, significantly below the national median of $2,690. Property taxes in Biscoe 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 Biscoe'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 Biscoe or another part of Prairie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Biscoe, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$264
Ownwell’s Biscoe Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Biscoe with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Biscoe to provide an estimate of your property tax bill. This intuitive tool helps you understand potential tax liabilities, making it easier to plan financially. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any exemptions that may apply.
Property Tax Rates Across Biscoe, Arkansas
Property taxes in Biscoe, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Biscoe is 0.57%, lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Biscoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Biscoe 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 Biscoe's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72017 zip code has the highest median property tax rate of 0.57%, while the same 72017 zip code also has the lowest median tax rate of 0.57%. Understanding how these areas compare with Biscoe provides valuable insights into the varying tax landscape across Prairie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Biscoe Tax Rate
0.88%
Average Prairie County Tax Rate
0.88%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Biscoe, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72017 | 0.17% | 0.45% | 0.88% | 0.92% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Biscoe, Arkansas
In Biscoe, 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 Prairie 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 Biscoe, 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 Biscoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $187.00, found in the 72017 zip code, while the lowest is also $187.00 in the same zip code.
Average Biscoe Assessed Value
$29,950
Average Prairie County Assessed Value
$51,500
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Biscoe, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72017 | $4,230 | $14,000 | $29,950 | $62,150 | $96,320 |
Source: Ownwell
Property Tax Bills Across Biscoe, Arkansas
In Biscoe, located in Prairie County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The median home price in Biscoe is $29,950. Property tax rates in this region are determined by local taxing authorities, and the tax bill can vary significantly depending on the assessed value and applicable tax rates. Homeowners in Biscoe can expect their tax bills to range widely. For instance, the 25th percentile tax bill is $68, while the 75th percentile tax bill reaches $398. At the 90th percentile, tax bills can go up to $740. The highest and lowest median tax bills in the area are both $187, indicating a relatively consistent tax rate within the specific zip code of 72017. These property taxes contribute to local services such as schools, infrastructure, and emergency services. Homeowners should be aware of these figures as they can significantly impact annual budgeting and overall homeownership costs.
Average Biscoe Tax Bill
$187
Average Prairie County Tax Bill
$335
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Biscoe, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72017 | $21 | $68 | $187 | $398 | $740 |
Source: Ownwell