Calico Rock, Arkansas Property Taxes
The median property tax rate in Calico Rock, AR is 0.70%, 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 $110,725 in Calico Rock, the typical annual property tax bill is around $696, significantly below the national median of $2,690. Property taxes in Calico Rock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding the property tax system in Calico Rock, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Calico Rock or elsewhere in the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors alike.
Last Updated June 14, 2024
Calico Rock, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$775
$719
Ownwell’s Calico Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calico Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calico Rock 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 Calico Rock, Arkansas
Property taxes in Calico Rock, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calico Rock is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Calico Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calico Rock 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 Calico Rock's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72519 has both the highest and lowest median property tax rate of 0.70%. Understanding how these areas compare with Calico Rock provides valuable insights into the varying tax landscape across Baxter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Calico Rock Tax Rate
0.70%
Average Baxter County Tax Rate
0.65%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calico Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72519 | 0.42% | 0.55% | 0.70% | 0.85% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Calico Rock, Arkansas
In Calico Rock, 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 Baxter County Assessor 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 Calico Rock, 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. The median home price in Calico Rock is $110,725, with the 25th percentile tax bill at $343 and the 75th percentile tax bill at $1,538. Notably, the highest and lowest median tax bills are both $696 in the zip code 72519. 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 Calico Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Calico Rock Assessed Value
$110,725
Average Baxter County Assessed Value
$137,150
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Calico Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72519 | $19,330 | $56,500 | $110,725 | $219,788 | $344,415 |
Source: Ownwell
Property Tax Bills Across Calico Rock, Arkansas
In Calico Rock, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Calico Rock is $110,725. Property taxes are then applied to this assessed value to determine the final tax bill. Several factors are considered in this calculation, including property size, location, and any applicable exemptions. The median property tax bill in Calico Rock is $696, which is significantly lower than the national median property tax rate of 0.99%. Homeowners in Calico Rock can expect tax bills ranging from $343 at the 25th percentile to $2,475 at the 90th percentile. This wide range indicates that property taxes can vary greatly depending on individual property characteristics and assessed values. Lower property tax bills in Calico Rock can make homeownership more affordable, but it also means that local government services may rely more heavily on other forms of revenue. Homeowners should be aware of how these taxes are calculated to better understand their annual financial obligations.
Average Calico Rock Tax Bill
$696
Average Baxter County Tax Bill
$862
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Calico Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72519 | $153 | $343 | $696 | $1,538 | $2,475 |
Source: Ownwell