Alexander, Arkansas Property Taxes
The median property tax rate in Alexander, AR is 1.17%, notably higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Alexander at $139,275, the typical annual property tax bill reaches $1,592, which is below the national median of $2,690. Property taxes in Alexander are calculated based on the assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Alexander'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 Alexander 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
Alexander, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,630
Ownwell’s Alexander Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alexander with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alexander 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 Alexander, Arkansas
Property taxes in Alexander, Arkansas, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Alexander is 0.61%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Alexander set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alexander 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 Alexander's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72002 zip code has the highest median property tax rate of 0.61%, while the 72002 zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Alexander provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alexander Tax Rate
1.17%
Average Pulaski County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alexander, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72002 | 0.76% | 1.02% | 1.17% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Alexander, Arkansas
In Alexander, 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 Pulaski 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 Alexander, 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 Alexander helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Alexander are both $1,592, found in the 72002 zip code.
Average Alexander Assessed Value
$139,275
Average Pulaski County Assessed Value
$148,242
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alexander, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72002 | $46,095 | $102,085 | $139,275 | $167,736 | $210,952 |
Source: Ownwell
Property Tax Bills Across Alexander, Arkansas
In Alexander, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For homeowners in Pulaski County, the median home price stands at $139,275. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property location, size, and improvements can influence the assessed value, thereby impacting the tax bill. For example, in Alexander, the 25th percentile of property tax bills is around $946, while the 75th percentile reaches up to $2,059, and the 90th percentile can be as high as $2,492. Comparing these figures to the national median property tax rate of 0.99%, it becomes evident that property taxes in Alexander can vary significantly based on individual property assessments. Homeowners should be aware of these variations as they can affect their annual financial planning and the overall cost of owning a home in the area.
Average Alexander Tax Bill
$1,592
Average Pulaski County Tax Bill
$1,457
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Alexander, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72002 | $384 | $946 | $1,592 | $2,059 | $2,492 |
Source: Ownwell