Ida, Cleburne County, Arkansas Property Taxes
The median property tax rate in IDA, AR is 0.57%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in IDA, the typical annual property tax bill reaches $334, significantly below the national median of $2,690. Property taxes in IDA 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 IDA'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 IDA or another part of Cleburne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ida, Cleburne County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$492
$456
Ownwell’s IDA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in IDA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in IDA 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 Ida, Cleburne County, Arkansas
Property taxes in IDA, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in IDA is 0.57%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within IDA set these rates annually, and they can vary significantly across different neighborhoods. Each year, IDA 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 IDA's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72546 zip code has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these areas compare with IDA provides valuable insights into the varying tax landscape across Cleburne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ida Tax Rate
0.57%
Average Cleburne County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ida, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72546 | 0.17% | 0.34% | 0.57% | 0.72% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Ida, Cleburne County, Arkansas
In IDA, 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 Cleburne 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 IDA, 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 IDA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the zip code 72546 in IDA has the highest and lowest median tax bill at $334.
Property Tax Assessment Values Across Ida, Cleburne County, Arkansas
Source: Ownwell
$58,295
$159,485
$260,675
Average Ida Assessed Value
$86,230
Average Cleburne County Assessed Value
$128,200
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ida, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72546 | $8,903 | $32,475 | $86,230 | $141,168 | $186,142 |
Source: Ownwell
Property Tax Bills Across Ida, Cleburne County, Arkansas
In IDA, located in Cleburne County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For homeowners in IDA, the median home price is $86,230. The property tax rate in this area is then applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For example, the 25th percentile of tax bills in IDA is $135, while the 75th percentile reaches $761, and the 90th percentile can be as high as $1,223. This variability demonstrates how different factors and property values can significantly impact what homeowners owe. Compared to the national median property tax rate of 0.99%, homeowners in IDA benefit from relatively lower property tax bills, providing some financial relief and making the area more affordable for residents.
Average Ida Tax Bill
$334
Average Cleburne County Tax Bill
$753
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Ida, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72546 | $48 | $135 | $334 | $761 | $1,223 |
Source: Ownwell