Mena, Arkansas Property Taxes
The median property tax rate in Mena, AR is 0.77%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $31,450 in Mena, the typical annual property tax bill amounts to $233, significantly below the national median of $2,690. Property taxes in Mena are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Mena's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mena or another part of Scott County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mena, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s MENA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MENA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MENA 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 Mena, Arkansas
Property taxes in MENA, Arkansas, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in MENA is 0.77%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within MENA set these rates annually, and they can vary significantly across different neighborhoods. Each year, MENA 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 MENA's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71953 has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with MENA provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mena Tax Rate
0.77%
Average Scott County Tax Rate
0.77%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mena, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71953 | 0.64% | 0.68% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Mena, Arkansas
In Mena, 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 Scott 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 Mena, 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. For example, the median home price in Mena is $31,450. Tax bills can vary significantly, with the 25th percentile at $127 and the 75th percentile at $412. Notably, the highest and lowest median tax bills are both $233 in the 71953 zip code. By understanding 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 Mena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mena Assessed Value
$31,450
Average Scott County Assessed Value
$49,950
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mena, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71953 | $6,660 | $16,775 | $31,450 | $55,950 | $92,230 |
Source: Ownwell
Property Tax Bills Across Mena, Arkansas
Property tax bills in MENA, located in Scott County, AR, are calculated based on the assessed value of a property, which is determined by county assessors. The assessed value is a percentage of the property's market value. In Scott County, the median home price is $31,450. The property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and improvements made to the property. Tax bills can vary significantly; for example, the 25th percentile tax bill is $127, while the 75th percentile tax bill is $412. At the higher end, the 90th percentile tax bill reaches $678. The highest median tax bill in Scott County is $233, found in the 71953 zip code. For homeowners, these property taxes fund essential local services such as schools, public safety, and infrastructure. Comparing these figures to the national median property tax rate of 0.99% highlights that property taxes in this region are relatively lower, providing some financial relief to homeowners.
Average Mena Tax Bill
$233
Average Scott County Tax Bill
$385
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mena, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71953 | $60 | $127 | $233 | $412 | $678 |
Source: Ownwell