Searcy, Arkansas Property Taxes
The median property tax rate in Searcy, AR is 0.54%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Searcy at $122,765, the typical annual property tax bill is $476, far below the national median of $2,690. Property taxes in Searcy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Searcy'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 Searcy 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
Searcy, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$663
$615
Ownwell’s Searcy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Searcy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Searcy 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 Searcy, Arkansas
Property taxes in Searcy, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Searcy is 0.54%, which is significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Searcy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Searcy 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 Searcy's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72143 zip code has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with Searcy 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 Searcy Tax Rate
0.54%
Average Cleburne County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Searcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72143 | 0.17% | 0.34% | 0.54% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Searcy, Arkansas
In Searcy, 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 Searcy, 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 Searcy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Searcy stands at $122,765, with median tax bills ranging from $130 at the 25th percentile to $1,673 at the 90th percentile. The zip code 72143 has both the highest and lowest median tax bill at $476.
Average Searcy Assessed Value
$122,765
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 Searcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72143 | $11,934 | $56,465 | $122,765 | $195,058 | $248,921 |
Source: Ownwell
Property Tax Bills Across Searcy, Arkansas
In Searcy, Arkansas, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Searcy stands at $122,765, and property taxes are determined by applying the local tax rate to this assessed value. Factors such as property location, improvements, and exemptions can influence the assessed value and, consequently, the tax bill. Homeowners in Searcy can expect a range of property tax bills, with the 25th percentile at $130 and the 75th percentile at $849. The 90th percentile sees higher tax bills, reaching up to $1,673. The highest median tax bill recorded in the area is $476, with the zip code 72143. Compared to the national median property tax rate of 0.99%, Searcy's property taxes can be considered relatively moderate. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Searcy Tax Bill
$476
Average Cleburne County Tax Bill
$753
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Searcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72143 | $64 | $130 | $476 | $849 | $1,673 |
Source: Ownwell