Prim, Cleburne County, Arkansas Property Taxes
The median property tax rate in Prim, Arkansas is 0.55%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Prim, the typical annual property tax bill reaches $433, significantly below the national median of $2,690. Property taxes in Prim 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 Prim'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 Prim 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
Prim, Cleburne County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$579
$537
Ownwell’s PRIM Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PRIM with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PRIM 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 Cleburne County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Prim, Cleburne County, Arkansas
Property taxes in Prim, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prim is 0.55%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Prim set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prim 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 Prim's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72130 has the highest median property tax rate of 0.55%, while the same zip code 72130 also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Prim 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 Prim Tax Rate
0.55%
Average Cleburne County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prim, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72130 | 0.16% | 0.32% | 0.55% | 0.72% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Prim, Cleburne County, Arkansas
In Prim, 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 Prim, 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 Prim is $105,190, with property tax bills ranging significantly. For instance, the 25th percentile tax bill is $192, while the 75th percentile reaches $869, and the 90th percentile climbs to $1,411. 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 Prim helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Prim, Cleburne County, Arkansas
Source: Ownwell
$58,295
$159,485
$260,675
Average Prim Assessed Value
$105,190
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 Prim, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72130 | $20,880 | $44,650 | $105,190 | $172,840 | $271,435 |
Source: Ownwell
Property Tax Bills Across Prim, Cleburne County, Arkansas
In the city of Prim in Cleburne County, AR, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor’s office and typically represents a percentage of the home's market value. For example, if the median home price in Prim is $105,190, the assessed value will be a fraction of this amount. Once the assessed value is established, local tax rates are applied to calculate the annual property tax bill. These rates are influenced by various factors, including local government budgets, school district funding, and public service needs. Homeowners in Prim can expect a wide range of tax bills; at the 25th percentile, the tax bill is $192, while at the 75th percentile, it reaches $869. The 90th percentile sees tax bills as high as $1,411. Compared to the national median property tax rate of 0.99%, Prim's property tax rates may appear relatively modest, providing some relief to homeowners in the area. However, the impact on individual homeowners can vary significantly based on their property's assessed value and the specific tax rate applied.
Average Prim Tax Bill
$433
Average Cleburne County Tax Bill
$753
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Prim, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72130 | $74 | $192 | $433 | $869 | $1,411 |
Source: Ownwell