Mc Neil, Columbia County, Arkansas Property Taxes
The median property tax rate in Mc Neil, AR is 0.75%, 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 $31,900 in Mc Neil, the typical annual property tax bill is just $254, significantly below the national median of $2,690. Property taxes in Mc Neil are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Mc Neil's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Mc Neil or another part of Columbia County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Neil, Columbia County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$239
$222
Ownwell’s MC NEIL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC NEIL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC NEIL 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 Mc Neil, Columbia County, Arkansas
Property taxes in Mc Neil, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Neil is 0.75%, which is below the U.S. national median of 0.99%. Local government entities within Mc Neil set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Neil 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 Mc Neil's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 71752 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Mc Neil provides valuable insights into the varying tax landscape across Columbia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Neil Tax Rate
0.75%
Average Columbia County Tax Rate
0.78%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Neil, Columbia County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71752 | 0.60% | 0.75% | 0.75% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Mc Neil, Columbia County, Arkansas
In MC NEIL, 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 local 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 MC NEIL, 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 highest median tax bill in the area is $254.00, which is also the lowest, highlighting the uniformity in tax assessments. Being aware of these valuation processes in MC NEIL helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mc Neil, Columbia County, Arkansas
Source: Ownwell
$31,900
$46,300
$60,700
Average Mc Neil Assessed Value
$31,900
Average Columbia County Assessed Value
$50,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Neil, Columbia County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71752 | $5,440 | $17,450 | $31,900 | $61,700 | $115,960 |
Source: Ownwell
Property Tax Bills Across Mc Neil, Columbia County, Arkansas
In Mc Neil, located in Columbia County, AR, 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 Mc Neil is $31,900. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as local tax rates and any applicable exemptions or deductions can influence the final amount. For homeowners in Mc Neil, the 25th percentile tax bill is $142, while the 75th percentile tax bill is $443. At the higher end, the 90th percentile tax bill reaches $776. This range indicates that there is variability in tax bills depending on the specific property and its assessed value. Comparatively, the median property tax rate in Mc Neil aligns with the national median of 0.99%, though individual bills can vary. Understanding these factors is crucial for homeowners as property taxes directly impact annual housing costs and overall financial planning.
Average Mc Neil Tax Bill
$254
Average Columbia County Tax Bill
$400
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Neil, Columbia County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71752 | $48 | $142 | $254 | $443 | $776 |
Source: Ownwell