Parkdale, Arkansas Property Taxes
The median property tax rate in Parkdale, AR is 0.92%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Parkdale at $44,050, the typical annual property tax bill is $343, significantly below the national median of $2,690. Property taxes in Parkdale 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 Parkdale'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 Parkdale 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
Parkdale, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$405
Ownwell’s Parkdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parkdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parkdale 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 Parkdale, Arkansas
Property taxes in Parkdale, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parkdale is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Parkdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parkdale 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 Parkdale's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71661 zip code has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Parkdale provides valuable insights into the varying tax landscape across Chicot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parkdale Tax Rate
0.92%
Average Chicot County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parkdale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71661 | 0.72% | 0.88% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Parkdale, Arkansas
In Parkdale, 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 Chicot 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. 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 Parkdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Parkdale is $44,050, with the highest and lowest median tax bills both being $343 in the 71661 zip code.
Average Parkdale Assessed Value
$44,050
Average Chicot County Assessed Value
$35,600
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parkdale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71661 | $20,360 | $35,375 | $44,050 | $76,538 | $297,105 |
Source: Ownwell
Property Tax Bills Across Parkdale, Arkansas
In Parkdale, Chicot County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The median home price in Parkdale stands at $44,050. To determine the tax bill, the assessed value is multiplied by the local tax rate. For many homeowners, this results in a tax bill that can vary significantly. For instance, the tax bill at the 25th percentile is $273, while at the 75th percentile, it rises to $704. At the 90th percentile, homeowners might see tax bills as high as $2,733. These variations can be attributed to differences in property values and specific tax rates applied within the county. Compared to the national median property tax rate of 0.99%, Parkdale's property tax rates reflect the local economic conditions and property values. Homeowners in Parkdale need to consider these factors when budgeting for their annual expenses, as property taxes can significantly impact their financial planning and overall cost of homeownership.
Average Parkdale Tax Bill
$343
Average Chicot County Tax Bill
$342
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Parkdale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71661 | $187 | $273 | $343 | $704 | $2,733 |
Source: Ownwell