Mc Dougal, Arkansas Property Taxes
The median property tax rate in Mc Dougal, AR is 0.63%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $33,700 in Mc Dougal, the typical annual property tax bill is $220, well below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mc Dougal'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 Mc Dougal 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
Mc Dougal, 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 MC DOUGAL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC DOUGAL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC DOUGAL 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 Mc Dougal, Arkansas
Property taxes in Mc Dougal, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Dougal is 0.63%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Mc Dougal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Dougal 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 Mc Dougal's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72441 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Mc Dougal provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Dougal Tax Rate
0.63%
Average Clay County Tax Rate
0.78%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Dougal, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72441 | 0.43% | 0.50% | 0.63% | 0.75% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Mc Dougal, Arkansas
In MC DOUGAL, Arkansas, understanding the difference between "market value" and "assessed value" is essential 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 Clay 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. In MC DOUGAL, 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 MC DOUGAL 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 $220 in the 72441 zip code, which is also the lowest median tax bill.
Average Mc Dougal Assessed Value
$33,700
Average Clay County Assessed Value
$59,500
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Dougal, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72441 | $2,360 | $12,325 | $33,700 | $53,225 | $80,750 |
Source: Ownwell
Property Tax Bills Across Mc Dougal, Arkansas
In Mc Dougal, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. For example, if the median home price is $33,700, the assessed value will be a fraction of this amount. The property tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location within the county, local tax rates, and any applicable exemptions. In Mc Dougal, homeowners can expect tax bills ranging from $93 at the 25th percentile to $518 at the 90th percentile, with the highest median tax bill in the area being $220 in the 72441 zip code. These property taxes significantly impact homeowners, as they contribute to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated can help homeowners better manage their finances and anticipate annual expenses.
Average Mc Dougal Tax Bill
$220
Average Clay County Tax Bill
$445
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Dougal, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72441 | $40 | $93 | $220 | $354 | $518 |
Source: Ownwell