Pangburn, Cleburne County, Arkansas Property Taxes
The median property tax rate in Pangburn, AR is 0.66%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Pangburn, the typical annual property tax bill amounts to $990, which is much less than the national median of $2,690. Property taxes in Pangburn are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Pangburn'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 Pangburn or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pangburn, Cleburne County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$983
$913
Ownwell’s Pangburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pangburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pangburn 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 Pangburn, Cleburne County, Arkansas
Property taxes in Pangburn, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pangburn is 0.66%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Pangburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pangburn 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 Pangburn's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72121 has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Pangburn 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 Pangburn Tax Rate
0.66%
Average Cleburne County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pangburn, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72121 | 0.30% | 0.46% | 0.66% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Pangburn, Cleburne County, Arkansas
In Pangburn, 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 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 Pangburn, 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 Pangburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72121 has both the highest and lowest median tax bill, valued at $990.
Property Tax Assessment Values Across Pangburn, Cleburne County, Arkansas
Source: Ownwell
$58,295
$159,485
$260,675
Average Pangburn Assessed Value
$149,010
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 Pangburn, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72121 | $30,810 | $61,482 | $149,010 | $267,588 | $351,956 |
Source: Ownwell
Property Tax Bills Across Pangburn, Cleburne County, Arkansas
In Pangburn, property tax bills are calculated based on the assessed value of a home, which is generally a percentage of its market value. For instance, with a median home price of $149,010, the assessed value is determined by local assessment practices. Various factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. The tax rate in Pangburn can significantly impact homeowners' finances. For example, the tax bill at the 25th percentile is $401, which is relatively low compared to the national median property tax rate of 0.99%. On the higher end, the 75th percentile tax bill reaches $1,728, while the 90th percentile can go up to $2,311. These figures illustrate the range of potential property tax liabilities homeowners might face. Understanding these variables helps homeowners anticipate their annual expenses and plan their budgets accordingly.
Average Pangburn Tax Bill
$990
Average Cleburne County Tax Bill
$753
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Pangburn, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72121 | $172 | $401 | $990 | $1,728 | $2,311 |
Source: Ownwell