Fordyce, Arkansas Property Taxes
The median property tax rate in Fordyce, AR is 0.86%, slightly below the national median of 0.99% yet just above the Arkansas state median of 0.84%. With a median home value of $35,700 in Fordyce, the typical annual property tax bill is $327, which is significantly lower than the national median of $2,690. Property taxes in Fordyce are determined based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Fordyce's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you reside in the heart of Fordyce or another area within Calhoun County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Fordyce, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Fordyce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fordyce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fordyce 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 Fordyce, Arkansas
Property taxes in Fordyce, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fordyce is 0.86%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Fordyce set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fordyce 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 Fordyce's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71742 zip code has both the highest and lowest median property tax rate of 0.86%. Understanding how these cities compare with Fordyce provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fordyce Tax Rate
0.86%
Average Calhoun County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fordyce, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71742 | 0.86% | 0.86% | 0.86% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Fordyce, Arkansas
In Fordyce, 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 Fordyce, 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 Fordyce helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $327 in the 71742 zip code.
Average Fordyce Assessed Value
$35,700
Average Calhoun County Assessed Value
$38,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fordyce, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71742 | $6,875 | $18,100 | $35,700 | $59,688 | $102,100 |
Source: Ownwell
Property Tax Bills Across Fordyce, Arkansas
In Fordyce, 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 Fordyce is $35,700. Homeowners in Fordyce can expect their property tax bills to vary significantly, with the 25th percentile paying around $177 and the 75th percentile facing a bill of approximately $521. For those in the 90th percentile, the tax bill can go up to $945. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. These elements combine to determine how much homeowners owe annually. The highest and lowest median tax bills in Fordyce are both $327, indicating a uniformity in certain areas of the city. Compared to the national median property tax rate of 0.99%, Fordyce's tax rates can be more manageable for many residents. However, the variability in tax bills highlights the importance of understanding local property assessments and tax regulations.
Average Fordyce Tax Bill
$327
Average Calhoun County Tax Bill
$351
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Fordyce, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71742 | $88 | $177 | $327 | $521 | $945 |
Source: Ownwell