Clarkridge, Baxter County, Arkansas Property Taxes
The median property tax rate in Clarkridge, AR is 0.62%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $106,600 in Clarkridge, the typical annual property tax bill amounts to $614, well below the national median of $2,690. Property taxes in Clarkridge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Clarkridge'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 Clarkridge or another part of the city, gaining knowledge of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clarkridge, Baxter County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$661
$613
Ownwell’s Clarkridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarkridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarkridge 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 Clarkridge, Baxter County, Arkansas
Property taxes in Clarkridge, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarkridge is 0.62%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Clarkridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarkridge 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 Clarkridge's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72623 zip code has the highest median property tax rate of 0.62%, while the same zip code has the lowest median tax rate of 0.62%. Understanding how these cities compare with Clarkridge 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 Clarkridge Tax Rate
0.62%
Average Baxter County Tax Rate
0.65%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarkridge, Baxter County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72623 | 0.46% | 0.53% | 0.62% | 0.70% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Clarkridge, Baxter County, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Clarkridge, Arkansas. 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 Clarkridge, 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 Clarkridge is $106,600, with tax bills ranging from $291 at the 25th percentile to $1,815 at the 90th percentile. The zip code with the highest median tax bill is 72623, at $614, which is also the lowest median tax bill in the area. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Clarkridge, Baxter County, Arkansas
Source: Ownwell
$50,600
$102,075
$153,550
Average Clarkridge Assessed Value
$106,600
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 Clarkridge, Baxter County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72623 | $22,910 | $53,000 | $106,600 | $190,762 | $288,125 |
Source: Ownwell
Property Tax Bills Across Clarkridge, Baxter County, Arkansas
In Clarkridge, located in Baxter County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is typically a percentage of the property's market value. For instance, a home with a median market price of $106,600 will have its tax calculated on this assessed value. Several factors influence the final tax bill, including the local tax rate and any applicable exemptions. The median tax bill in Clarkridge is $614, a figure that is consistent across the zip code 72623. However, tax bills can vary widely; homeowners at the 25th percentile pay around $291, while those at the 75th percentile face bills of approximately $1,154. For the highest 10% of property values, the tax bill can reach up to $1,815. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in the community.
Average Clarkridge Tax Bill
$614
Average Baxter County Tax Bill
$862
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarkridge, Baxter County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72623 | $153 | $291 | $614 | $1,154 | $1,815 |
Source: Ownwell