Jonesboro, Arkansas Property Taxes
The median property tax rate in Jonesboro, AR is 0.58%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Jonesboro, the typical annual property tax bill reaches $2,290, which is below the national median of $2,690. Property taxes in Jonesboro 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 Jonesboro'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 Jonesboro 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
Jonesboro, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$2,283
Ownwell’s Jonesboro Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Jonesboro with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Jonesboro to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Jonesboro, Arkansas
Property taxes in Jonesboro, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jonesboro is 0.58%, which is notably lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Jonesboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jonesboro 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 Jonesboro's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72404 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these areas compare with Jonesboro provides valuable insights into the varying tax landscape across Craighead County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jonesboro Tax Rate
0.58%
Average Baxter County Tax Rate
0.65%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jonesboro, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72404 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Jonesboro, Arkansas
In Jonesboro, 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 local 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 Jonesboro, 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. For instance, the highest median tax bill in Jonesboro is $2,290 in the 72404 zip code, which is also the lowest median tax bill. Being aware of these valuation processes in Jonesboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jonesboro Assessed Value
$393,650
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 Jonesboro, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72404 | $393,650 | $393,650 | $393,650 | $393,650 | $393,650 |
Source: Ownwell
Property Tax Bills Across Jonesboro, Arkansas
In Jonesboro, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Jonesboro, the median home price is $393,650. The property tax rate in this region is notably lower than the national median property tax rate of 0.99%, leading to a median tax bill of $2,290. Factors such as location within the county, property size, and any applicable exemptions can influence the assessed value and, consequently, the tax bill. Homeowners in Jonesboro can expect their tax bills to be relatively consistent, with the 25th, 75th, and 90th percentile tax bills all being $2,290. This consistency provides homeowners with predictable annual expenses, which can be beneficial for budgeting and financial planning. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Jonesboro Tax Bill
$2,290
Average Baxter County Tax Bill
$862
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Jonesboro, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72404 | $2,290 | $2,290 | $2,290 | $2,290 | $2,290 |
Source: Ownwell