Taylor, Arkansas Property Taxes
The median property tax rate in Taylor, Arkansas is 0.91%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Taylor at $52,925, the typical annual property tax bill is $457, significantly below the national median of $2,690. Property taxes in Taylor 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 Taylor'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 Taylor 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
Taylor, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$482
Ownwell’s Taylor Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Taylor with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Taylor to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities effortlessly. For those interested in detailed trends at the neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across Taylor, Arkansas
Property taxes in Taylor, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Taylor is 0.91%, which is below the U.S. national median of 0.99%. Local government entities within Taylor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Taylor 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 Taylor's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71861 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Taylor 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 Taylor Tax Rate
0.91%
Average Columbia County Tax Rate
0.78%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taylor, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71861 | 0.67% | 0.77% | 0.91% | 0.91% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Taylor, Arkansas
In Taylor, 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 Columbia County Assessor's Office 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 Taylor, 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 Taylor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Taylor is $52,925, with tax bills ranging from the 25th percentile at $246 to the 90th percentile at $1,420. The zip code 71861 has the highest and lowest median tax bill at $457.
Average Taylor Assessed Value
$52,925
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 Taylor, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71861 | $6,770 | $26,562 | $52,925 | $96,350 | $167,870 |
Source: Ownwell
Property Tax Bills Across Taylor, Arkansas
Property tax bills in Taylor, Columbia County, AR, are calculated based on the assessed value of a home, which is typically a percentage of its market value. In Taylor, the median home price is $52,925. The tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence this calculation, including property size, location, and any applicable exemptions. Homeowners in Taylor can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $246, while the 75th percentile reaches $790, and the 90th percentile can go up to $1,420. These figures highlight the range of property tax burdens depending on individual property characteristics and valuations. Compared to the national median property tax rate of 0.99%, Taylor's property taxes are relatively modest. However, the impact on homeowners can still be significant, affecting monthly budgets and overall affordability. Understanding how these taxes are calculated helps homeowners plan better and potentially seek appeals or exemptions to reduce their financial burden.
Average Taylor Tax Bill
$457
Average Columbia County Tax Bill
$400
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Taylor, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71861 | $96 | $246 | $457 | $790 | $1,420 |
Source: Ownwell