Clinton, Arkansas Property Taxes
The median property tax rate in Clinton, 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 $64,700 in Clinton, the typical annual property tax bill amounts to $553, which is significantly below the national median of $2,690. Property taxes in Clinton are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Navigating Clinton'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 Clinton or another part of Van Buren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clinton, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$569
Ownwell’s Clinton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clinton 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 Clinton, Arkansas
Property taxes in Clinton, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clinton is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Clinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clinton 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 Clinton's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72031 has the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Clinton provides valuable insights into the varying tax landscape across Van Buren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clinton Tax Rate
0.88%
Average Van Buren County Tax Rate
0.88%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clinton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72031 | 0.71% | 0.86% | 0.88% | 0.88% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Clinton, Arkansas
In Clinton, 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 Van Buren 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 Clinton, 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 Clinton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72031, with a median bill of $553.
Average Clinton Assessed Value
$64,700
Average Van Buren County Assessed Value
$61,550
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clinton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72031 | $13,740 | $33,800 | $64,700 | $109,550 | $173,960 |
Source: Ownwell
Property Tax Bills Across Clinton, Arkansas
In Clinton, located in Van Buren County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Clinton is $64,700. Property taxes are determined by applying the local tax rate to this assessed value. Factors like property size, location, and improvements impact the market value, and consequently, the assessed value. For homeowners, the property tax bill can vary significantly. The 25th percentile tax bill is around $295, while the 75th percentile reaches $941. The 90th percentile tax bill can go up to $1,512. The highest median tax bill in Clinton is $553, which is consistent across the 72031 zip code. Compared to the national median property tax rate of 0.99%, Clinton's property taxes can be quite manageable, providing some financial relief to homeowners. Understanding these calculations helps residents anticipate their annual tax obligations and manage their budgets effectively.
Average Clinton Tax Bill
$553
Average Van Buren County Tax Bill
$534
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Clinton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72031 | $141 | $295 | $553 | $941 | $1,512 |
Source: Ownwell