Piggott, Arkansas Property Taxes
The median property tax rate in Piggott, AR is 0.73%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Piggott at $77,150, the typical annual property tax bill is $530, significantly less than the national median of $2,690. Property taxes in Piggott are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Piggott'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 Piggott or another part of Clay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Piggott, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$563
$523
Ownwell’s Piggott Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Piggott. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Piggott to provide an accurate estimate of your property tax bill. This user-friendly tool allows you to understand your potential tax liabilities better. For those interested in neighborhood-specific trends, more detailed localized information is available as you scroll down. Your property’s assessed value, determined by Clay County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Piggott, Arkansas
Property taxes in Piggott, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Piggott is 0.52%, which is lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Piggott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piggott 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 Piggott's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72454 has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Piggott 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 Piggott Tax Rate
0.73%
Average Clay County Tax Rate
0.78%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piggott, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72454 | 0.50% | 0.59% | 0.73% | 0.88% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Piggott, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Piggott, 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 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 Piggott, 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. The median home price in Piggott is $77,150, with tax bills ranging from $306 at the 25th percentile to $1,486 at the 90th percentile. The highest median tax bill is $530 in the 72454 zip code, which also has the lowest median tax bill at $530. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Piggott Assessed Value
$77,150
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 Piggott, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72454 | $13,250 | $39,700 | $77,150 | $135,450 | $201,390 |
Source: Ownwell
Property Tax Bills Across Piggott, Arkansas
In Piggott, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Factors such as the home's location, size, and condition play a significant role in determining its assessed value. Homeowners in Piggott, located in Clay County, AR, experience property tax bills that can vary widely. For instance, the tax bill at the 25th percentile is $306, while at the 75th percentile, it rises to $938. At the 90th percentile, homeowners might see a tax bill as high as $1486. The median home price in Piggott stands at $77,150, and the property tax rate is influenced by local government budgets and school funding requirements. Compared to the national median property tax rate of 0.99%, Piggott's property tax landscape reflects the area's specific economic and administrative needs. This variation in tax bills significantly impacts homeowners, affecting their annual expenses and, ultimately, their financial planning.
Average Piggott Tax Bill
$530
Average Clay County Tax Bill
$445
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Piggott, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72454 | $150 | $306 | $530 | $938 | $1,486 |
Source: Ownwell