Tumbling Shoals, Arkansas Property Taxes
The median property tax rate in Tumbling Shoals, AR is 0.61%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $114,300 in Tumbling Shoals, the typical annual property tax bill amounts to $599, significantly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Tumbling Shoals' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Tumbling Shoals or another part of Cleburne County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tumbling Shoals, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$697
$647
Ownwell’s Tumbling Shoals Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tumbling Shoals with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tumbling Shoals 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 Tumbling Shoals, Arkansas
Property taxes in Tumbling Shoals, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tumbling Shoals is 0.61%, lower than the U.S. national median of 0.99%. Local government entities within Tumbling Shoals set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tumbling Shoals 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 Tumbling Shoals' effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72581 has both the highest and lowest median property tax rate of 0.61%. Understanding how these areas compare with Tumbling Shoals 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 Tumbling Shoals Tax Rate
0.61%
Average Cleburne County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tumbling Shoals, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72581 | 0.22% | 0.39% | 0.61% | 0.73% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Tumbling Shoals, Arkansas
In Tumbling Shoals, 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 Tumbling Shoals, 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. For instance, the median home price is $114,300, with tax bills ranging from $222 at the 25th percentile to $2,032 at the 90th percentile. Being aware of these valuation processes in Tumbling Shoals helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Tumbling Shoals, Arkansas
Source: Ownwell
$58,295
$159,485
$260,675
Average Tumbling Shoals Assessed Value
$114,300
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 Tumbling Shoals, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72581 | $25,385 | $50,648 | $114,300 | $203,715 | $324,265 |
Source: Ownwell
Property Tax Bills Across Tumbling Shoals, Arkansas
In Tumbling Shoals, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. Homeowners in Cleburne County can expect their property tax bills to be influenced by several factors, including the local tax rate and the assessed value of their property. The median home price in Tumbling Shoals stands at $114,300. Tax rates in this region are relatively low compared to the national median property tax rate of 0.99%. For instance, homeowners at the 25th percentile pay around $222 annually, while those at the 75th percentile see bills of about $1,190. The top 10% of property tax bills can reach up to $2,032. These taxes fund essential local services such as schools, public safety, and infrastructure. Understanding how these factors come together helps homeowners anticipate their annual property tax obligations and plan accordingly.
Average Tumbling Shoals Tax Bill
$599
Average Cleburne County Tax Bill
$753
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Tumbling Shoals, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72581 | $109 | $222 | $599 | $1,190 | $2,032 |
Source: Ownwell