Mccrory, Arkansas Property Taxes
The median property tax rate in McCrory, AR is 1.00%, slightly higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in McCrory at $22,300, the typical annual property tax bill is $317, which is significantly lower than the national median of $2,690. Property taxes in McCrory 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 McCrory'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 McCrory 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
Mccrory, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$223
Ownwell’s McCrory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McCrory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McCrory 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 Mccrory, Arkansas
Property taxes in McCrory, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McCrory is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within McCrory set these rates annually, and they can vary significantly across different neighborhoods. Each year, McCrory 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 McCrory's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72101 has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with McCrory 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 Mccrory Tax Rate
1.00%
Average Woodruff County Tax Rate
0.89%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mccrory, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72101 | 0.53% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Mccrory, Arkansas
In McCrory, 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 McCrory, 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 McCrory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $317, both found in the 72101 zip code.
Average Mccrory Assessed Value
$22,300
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 Mccrory, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72101 | $4,320 | $11,275 | $22,300 | $54,075 | $94,060 |
Source: Ownwell
Property Tax Bills Across Mccrory, Arkansas
In McCrory, Woodruff County, AR, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by county assessors. Homeowners in McCrory can expect median property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $145, while at the 75th percentile, it rises to approximately $668. The highest observed median tax bill in the area is $317. Various factors influence these tax bills, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, McCrory's rates may seem more manageable, but the actual amount paid can still impact homeowners’ budgets significantly. Understanding these factors is crucial for homeowners to manage their finances effectively and anticipate their annual property tax obligations.
Average Mccrory Tax Bill
$317
Average Woodruff County Tax Bill
$317
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mccrory, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72101 | $43 | $145 | $317 | $668 | $927 |
Source: Ownwell