Peach Orchard, Arkansas Property Taxes
The median property tax rate in Peach Orchard, AR is 0.83%, slightly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Peach Orchard at $40,800, the typical annual property tax bill reaches $339, significantly below the national median of $2,690. Property taxes in Peach Orchard 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 Peach Orchard'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 Peach Orchard 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
Peach Orchard, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$339
Ownwell’s Peach Orchard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peach Orchard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peach Orchard 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 Peach Orchard, Arkansas
Property taxes in Peach Orchard, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peach Orchard is 0.62%, notably lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Peach Orchard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peach Orchard 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 Peach Orchard's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72453 zip code has the highest median property tax rate of 0.83%, while the 72435 zip code has the lowest median tax rate of 0.62%. Understanding how these cities compare with Peach Orchard 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 Peach Orchard Tax Rate
0.83%
Average Clay County Tax Rate
0.78%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peach Orchard, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72435 | 0.53% | 0.57% | 0.62% | 0.72% | 0.79% |
| 72453 | 0.55% | 0.65% | 0.83% | 0.97% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Peach Orchard, Arkansas
In Peach Orchard, 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 Clay County Assessor 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 Peach Orchard, 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. Peach Orchard has a median home price of $40,800, with tax bills ranging from $165 at the 25th percentile to $986 at the 90th percentile. The highest median tax bill is $340 in zip code 72453, while the lowest is $328 in zip code 72435. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Peach Orchard Assessed Value
$40,800
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 Peach Orchard, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72435 | $49,120 | $50,575 | $53,000 | $56,175 | $58,080 |
| 72453 | $4,775 | $15,488 | $40,400 | $76,188 | $141,160 |
Source: Ownwell
Property Tax Bills Across Peach Orchard, Arkansas
In Peach Orchard, located in Clay County, AR, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the market value of the home, which for Peach Orchard has a median home price of $40,800. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and local tax rates play a crucial role in this calculation. Homeowners in Peach Orchard can expect their property tax bills to vary significantly. For instance, tax bills can range from the 25th percentile at $165 to the 75th percentile at $556, with the 90th percentile reaching up to $986. The highest median tax bill in the area is $340 in the 72453 zip code, while the lowest median tax bill is $328 in the 72435 zip code. These property taxes directly affect homeowners' annual expenses, making it essential for them to understand how their tax bills are determined and managed.
Average Peach Orchard Tax Bill
$339
Average Clay County Tax Bill
$445
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Peach Orchard, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72435 | $262 | $287 | $328 | $410 | $460 |
| 72453 | $57 | $163 | $340 | $566 | $1,001 |
Source: Ownwell