Gepp, Arkansas Property Taxes
The median property tax rate in Gepp, Arkansas, is 0.85%, slightly higher than the state median of 0.84% but below the national median of 0.99%. With a median home value of $135,200 in Gepp, the typical annual property tax bill amounts to $1,024, which is significantly lower than the national median of $2,690. Property taxes in Gepp are calculated based on the assessed value, which is generally lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Gepp's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gepp or another part of Baxter County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gepp, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,149
Ownwell’s GEPP Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GEPP with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GEPP 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 Gepp, Arkansas
Property taxes in Gepp, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gepp is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Gepp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gepp 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 Gepp's effective property tax rate to other regions in Arkansas and the national median. For comparison, the zip code 72538 has both the highest and lowest median property tax rate of 0.85%, matching Gepp's rate. Understanding how these areas compare with Gepp 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 Gepp Tax Rate
0.85%
Average Baxter County Tax Rate
0.65%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gepp, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72538 | 0.59% | 0.66% | 0.85% | 0.89% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Gepp, Arkansas
In Gepp, 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 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 Gepp, 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 Gepp is $135,200, with tax bills ranging from $791 at the 25th percentile to $1,312 at the 90th percentile. The highest median tax bill in the area is $1,024 in the 72538 zip code. 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.
Average Gepp Assessed Value
$135,200
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 Gepp, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72538 | $101,950 | $115,200 | $135,200 | $141,375 | $148,950 |
Source: Ownwell
Property Tax Bills Across Gepp, Arkansas
In Gepp, located in Baxter County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Gepp is $135,200, and property taxes are determined by multiplying the assessed value by the local tax rate. The national median property tax rate is 0.99%, but specific rates can vary within the county. Homeowners in Gepp can expect their tax bills to fall within a range, with the 25th percentile at $791 and the 75th percentile at $1,177. For those at the higher end, the 90th percentile tax bill reaches $1,312. These taxes fund essential local services such as schools, infrastructure, and public safety, directly impacting the quality of life in the community. Understanding how these factors interplay helps homeowners anticipate their financial obligations and the benefits they receive from their contributions. By staying informed, residents can better manage their property investments and support their local community.
Average Gepp Tax Bill
$1,024
Average Baxter County Tax Bill
$862
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Gepp, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72538 | $709 | $791 | $1,024 | $1,177 | $1,312 |
Source: Ownwell