Egypt, Arkansas Property Taxes
The median property tax rate in Egypt, AR is 0.90%, 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 Egypt at $55,808, the typical annual property tax bill is $455, which is significantly below the national median of $2,690. Property taxes in Egypt are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Egypt's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Egypt or another part of Craighead County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Egypt, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Egypt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Egypt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Egypt 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 Egypt, Arkansas
Property taxes in Egypt, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Egypt is 0.90%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Egypt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Egypt 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 Egypt's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72427 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Egypt provides valuable insights into the varying tax landscape across Craighead County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Egypt Tax Rate
0.90%
Average Craighead County Tax Rate
0.83%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Egypt, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72427 | 0.68% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Egypt, Arkansas
In Egypt, 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 Craighead 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 Egypt, 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. The median home price in Egypt is $55,808, with tax bills ranging from $253 at the 25th percentile to $812 at the 90th percentile. 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 Egypt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Egypt Assessed Value
$55,808
Average Craighead County Assessed Value
$151,595
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Egypt, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72427 | $17,320 | $28,061 | $55,808 | $73,924 | $93,425 |
Source: Ownwell
Property Tax Bills Across Egypt, Arkansas
Property tax bills in Egypt, located in Craighead County, AR, are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value typically represents a percentage of the property's market value. Homeowners in Egypt experience varying property tax bills, with the 25th percentile at $253 and the 75th percentile at $628, indicating a broad range of tax obligations. Several factors influence these tax bills, including property size, location, and any improvements made. The highest median tax bill in Egypt is $455, which is considerably lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable in Egypt compared to other regions. For homeowners, understanding how these taxes are calculated and what factors are considered can help in planning and budgeting for annual expenses. While the median home price in Egypt is $55,808, the property tax rates here provide a financial advantage, making it an attractive option for potential buyers.
Average Egypt Tax Bill
$455
Average Craighead County Tax Bill
$1,210
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Egypt, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72427 | $150 | $253 | $455 | $628 | $812 |
Source: Ownwell