Carthage, Arkansas Property Taxes
The median property tax rate in Carthage, AR is 0.94%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $30,050, the typical annual property tax bill in Carthage amounts to $208, which is significantly lower than the national median of $2,690. Property taxes in Carthage 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 Carthage'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 Carthage 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
Carthage, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$282
$262
Ownwell’s Carthage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carthage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carthage 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 Carthage, Arkansas
Property taxes in Carthage, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carthage is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Carthage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carthage 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 Carthage's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71725 zip code has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Carthage provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carthage Tax Rate
0.94%
Average Cleveland County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carthage, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71725 | 0.60% | 0.70% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Carthage, Arkansas
In Carthage, 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 Cleveland 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 Carthage, 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 Carthage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Carthage are both $208, with the zip code 71725.
Average Carthage Assessed Value
$30,050
Average Cleveland County Assessed Value
$55,200
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carthage, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71725 | $4,240 | $9,650 | $30,050 | $50,050 | $82,010 |
Source: Ownwell
Property Tax Bills Across Carthage, Arkansas
In Carthage, located in Cleveland County, AR, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The median home price in Carthage is $30,050. Factors such as property size, location, and improvements influence the assessed value. Local tax rates are then applied to this assessed value to determine the annual tax bill. For homeowners in Carthage, tax bills can vary significantly. At the 25th percentile, tax bills are around $91, while those at the 75th percentile see bills of approximately $440. The 90th percentile tax bill reaches up to $594, highlighting the range that property owners might experience. The highest and lowest median tax bills in the region are both $208, indicating some consistency within specific areas. Compared to the national median property tax rate of 0.99%, Carthage's property tax rates are relatively low, offering some financial relief to homeowners. This lower tax burden can make homeownership more affordable and appealing in Carthage.
Average Carthage Tax Bill
$208
Average Cleveland County Tax Bill
$492
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Carthage, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71725 | $40 | $91 | $208 | $440 | $594 |
Source: Ownwell