Eureka Springs, Arkansas Property Taxes
The median property tax rate in Eureka Springs, AR is 0.68%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Eureka Springs at $208,325, the typical annual property tax bill reaches $1,281, which is below the national median of $2,690. Property taxes in Eureka Springs 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 Eureka Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Eureka Springs or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eureka Springs, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,417
$1,315
Ownwell’s Eureka Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eureka Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eureka Springs 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 Eureka Springs, Arkansas
Property taxes in Eureka Springs, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eureka Springs is 0.68%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Eureka Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eureka Springs 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 Eureka Springs' effective property tax rate to other areas in Carroll County and the national median. For comparison, the 72631 zip code has the highest median property tax rate of 0.71%, while the 72632 zip code has the lowest median tax rate of 0.67%. Understanding how these areas compare with Eureka Springs provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eureka Springs Tax Rate
0.68%
Average Carroll County Tax Rate
0.66%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eureka Springs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72631 | 0.27% | 0.47% | 0.71% | 0.91% | 0.96% |
| 72632 | 0.29% | 0.44% | 0.67% | 0.83% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Eureka Springs, Arkansas
In Eureka Springs, 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 Carroll County Assessor's Office 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. 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 Eureka Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Eureka Springs is $1,487 in the 72631 zip code, while the lowest median tax bill is $1,216 in the 72632 zip code.
Property Tax Assessment Values Across Eureka Springs, Arkansas
Source: Ownwell
$24,250
$129,963
$235,675
Average Eureka Springs Assessed Value
$208,325
Average Carroll County Assessed Value
$140,725
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eureka Springs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72631 | $55,050 | $118,488 | $235,675 | $391,938 | $547,885 |
| 72632 | $60,920 | $124,925 | $197,550 | $294,450 | $419,930 |
Source: Ownwell
Property Tax Bills Across Eureka Springs, Arkansas
In Eureka Springs, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including the market value of the property, local tax rates, and any applicable exemptions or deductions. For homeowners in Eureka Springs, the median home price is $208,325. Property tax bills can vary significantly, with the 25th percentile at $675 and the 75th percentile at $2,157. The 90th percentile sees tax bills as high as $3,491. In Carroll County, the highest median tax bill in zip code 72631 is $1,487, while the lowest in zip code 72632 is $1,216. These figures highlight the variability in property tax bills, which can significantly impact homeowners' annual expenses. Given that the national median property tax rate is 0.99%, understanding these local nuances is crucial for property owners.
Average Eureka Springs Tax Bill
$1,281
Average Carroll County Tax Bill
$850
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Eureka Springs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72631 | $258 | $666 | $1,487 | $2,745 | $4,225 |
| 72632 | $298 | $678 | $1,216 | $1,926 | $3,004 |
Source: Ownwell