Paragould, Arkansas Property Taxes
The median property tax rate in Paragould, AR is 0.88%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. Given the median home value in Paragould, the typical annual property tax bill amounts to $308, significantly lower than the national median of $2,690. Property taxes in Paragould are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Navigating Paragould's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're residing in Paragould or investing in real estate within the city, gaining a thorough understanding of the local property tax system will be beneficial.
Last Updated June 14, 2024
Paragould, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$324
$301
Ownwell’s Paragould Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paragould with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paragould 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 Paragould, Arkansas
Property taxes in Paragould, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paragould is 0.53%, 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 Paragould set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paragould 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 Paragould's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in Arkansas is 0.72% in Benton County, while the lowest median tax rate is 0.37% in Johnson County. Understanding how these cities compare with Paragould provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paragould Tax Rate
0.88%
Average Clay County Tax Rate
0.78%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paragould, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72450 | 0.84% | 0.86% | 0.88% | 0.91% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Paragould, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Paragould, Arkansas. 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 Paragould, 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 Paragould helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $308, found in the 72450 zip code.
Average Paragould Assessed Value
$36,800
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 Paragould, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72450 | $10,680 | $20,475 | $36,800 | $53,125 | $62,920 |
Source: Ownwell
Property Tax Bills Across Paragould, Arkansas
Property tax bills in Paragould, located in Clay County, AR, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value of the home. In Paragould, the median home price stands at $36,800. This valuation is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Paragould, property tax bills can vary significantly. For instance, the 25th percentile tax bill is around $173, while the 75th percentile tax bill reaches up to $442. At the 90th percentile, homeowners might see tax bills as high as $523. Comparatively, the highest median tax bill in the area is $308, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Lower property tax rates can make homeownership more affordable, but it's crucial for homeowners to understand how these taxes are calculated and their implications.
Average Paragould Tax Bill
$308
Average Clay County Tax Bill
$445
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Paragould, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72450 | $92 | $173 | $308 | $442 | $523 |
Source: Ownwell