El Paso, Arkansas Property Taxes
The median property tax rate in El Paso, Arkansas is 0.81%, slightly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in El Paso at $78,650, the typical annual property tax bill reaches $569, significantly below the national median of $2,690. Property taxes in El Paso are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding El Paso'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 El Paso 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
El Paso, 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 EL PASO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EL PASO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EL PASO 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 El Paso, Arkansas
Property taxes in El Paso, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in El Paso is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within El Paso set these rates annually, and they can vary significantly across different neighborhoods. Each year, El Paso 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 El Paso's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72045 has both the highest and lowest median property tax rate in the area, standing at 0.81%. Understanding how these cities compare with El Paso provides valuable insights into the varying tax landscape across White County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average El Paso Tax Rate
0.81%
Average White County Tax Rate
0.81%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across El Paso, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72045 | 0.51% | 0.71% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across El Paso, Arkansas
In El Paso, 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 White 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 El Paso, 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. The median home price in El Paso is $78,650, with tax bills ranging from $229 at the 25th percentile to $1,824 at the 90th percentile. The zip code 72045 has both the highest and lowest median tax bill at $569. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average El Paso Assessed Value
$78,650
Average White County Assessed Value
$81,100
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across El Paso, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72045 | $12,460 | $30,750 | $78,650 | $150,375 | $244,730 |
Source: Ownwell
Property Tax Bills Across El Paso, Arkansas
In El Paso, located in White County, AR, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. The median home price in El Paso is $78,650. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in El Paso can expect tax bills ranging from $229 at the 25th percentile to $1,169 at the 75th percentile, with the 90th percentile reaching up to $1,824. Factors influencing the tax bill include the market value of the property, local tax rates, and applicable exemptions. Compared to the national median property tax rate of 0.99%, El Paso's property tax rates can lead to significantly lower tax bills. For instance, the highest median tax bill within the region is $569, found in the 72045 zip code. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, thereby influencing the overall cost of homeownership.
Average El Paso Tax Bill
$569
Average White County Tax Bill
$632
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across El Paso, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72045 | $103 | $229 | $569 | $1,169 | $1,824 |
Source: Ownwell