Yellville, Arkansas Property Taxes
The median property tax rate in Yellville, AR is 0.89%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $132,525 in Yellville, the typical annual property tax bill is approximately $1,182, which is significantly lower than the national median of $2,690. Property taxes in Yellville are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Yellville'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 Yellville or another part of Boone County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yellville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,179
Ownwell’s Yellville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yellville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yellville 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 Yellville, Arkansas
Property taxes in Yellville, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yellville is 0.52%, which is significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Yellville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yellville 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 Yellville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72687 zip code has the highest median property tax rate of 0.52%, while the same 72687 zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Yellville provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yellville Tax Rate
0.89%
Average Boone County Tax Rate
0.89%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yellville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72687 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Yellville, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Yellville, AR. 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 Boone 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 Yellville, 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 Yellville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Yellville are both $1182, found in zip code 72687.
Average Yellville Assessed Value
$132,525
Average Boone County Assessed Value
$102,750
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yellville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72687 | $120,745 | $125,162 | $132,525 | $139,888 | $144,305 |
Source: Ownwell
Property Tax Bills Across Yellville, Arkansas
In Yellville, 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 the area is $132,525. Property taxes are then determined by applying the local tax rate to this assessed value. For example, in Boone County, the median property tax bill is $1,182. This figure falls within the 25th to 75th percentile range, where tax bills vary between $1,116 and $1,248. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Yellville may find their property tax bills slightly lower than the national median property tax rate of 0.99%. However, these taxes still represent a significant annual expense and can impact overall home affordability. Understanding how these elements come together helps homeowners anticipate their financial obligations and plan accordingly.
Average Yellville Tax Bill
$1,182
Average Boone County Tax Bill
$870
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Yellville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72687 | $1,077 | $1,116 | $1,182 | $1,248 | $1,287 |
Source: Ownwell