Brinkley, Arkansas Property Taxes
The median property tax rate in Brinkley, AR is 0.90%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Brinkley at $102,800, the typical annual property tax bill is $747, which is significantly below the national median of $2,690. Property taxes in Brinkley 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 Brinkley'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 Brinkley 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
Brinkley, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$925
Ownwell’s Brinkley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brinkley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brinkley 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 Brinkley, Arkansas
Property taxes in Brinkley, Arkansas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Brinkley is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Brinkley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brinkley 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 Brinkley's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72021 has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these areas compare with Brinkley provides valuable insights into the varying tax landscape across Woodruff County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brinkley Tax Rate
0.90%
Average Woodruff County Tax Rate
0.89%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brinkley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72021 | 0.32% | 0.77% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Brinkley, Arkansas
In Brinkley, 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 Woodruff 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 Brinkley, 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 Brinkley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Brinkley are both $747.00, found in the 72021 zip code.
Average Brinkley Assessed Value
$102,800
Average Woodruff County Assessed Value
$44,350
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brinkley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72021 | $34,900 | $75,800 | $102,800 | $161,550 | $320,200 |
Source: Ownwell
Property Tax Bills Across Brinkley, Arkansas
In Brinkley, located in Woodruff County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For example, a home with a median market price of $102,800 would have its assessed value calculated accordingly. The tax rate is then applied to this assessed value to determine the annual property tax bill. Factors such as local tax rates, property exemptions, and any applicable deductions play a significant role in the final amount. Homeowners in Brinkley can expect their tax bills to vary widely, with the 25th percentile tax bill around $560 and the 75th percentile reaching up to $1,587. For those at the 90th percentile, it can soar to $2,876. These property taxes fund essential community services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners. Comparatively, the median property tax rate in Brinkley is quite favorable, especially when considering the national median property tax rate of 0.99%.
Average Brinkley Tax Bill
$747
Average Woodruff County Tax Bill
$317
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Brinkley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72021 | $279 | $560 | $747 | $1,587 | $2,876 |
Source: Ownwell