Paragould, Arkansas Property Taxes
The median property tax rate in Paragould, AR is 0.77%, which is below both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $104,852 in Paragould, the typical annual property tax bill is around $767, significantly less than the national median of $2,690. Property taxes in Paragould are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural land. Understanding Paragould's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Paragould or another part of the city, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paragould, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$807
$749
Ownwell’s Paragould Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paragould with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paragould 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 Paragould, Arkansas
Property taxes in Paragould, Arkansas, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Paragould is 0.52%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Paragould set these rates annually, and they can vary across different neighborhoods. Each year, Paragould 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 Paragould's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in Arkansas is found in Pulaski County at 0.89%, while the lowest median tax rate is in Johnson County at 0.33%. Understanding how these counties compare with Paragould 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 Paragould Tax Rate
0.77%
Average Craighead County Tax Rate
0.83%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paragould, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72450 | 0.52% | 0.63% | 0.77% | 0.90% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Paragould, Arkansas
In Paragould, 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 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 Paragould, 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 Paragould helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Paragould is $767, found in the zip code 72450.
Average Paragould Assessed Value
$104,852
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 Paragould, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72450 | $33,922 | $69,640 | $104,852 | $189,819 | $266,288 |
Source: Ownwell
Property Tax Bills Across Paragould, Arkansas
Property tax bills in Paragould, Craighead County, AR, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $104,852, homeowners can expect their tax bills to vary significantly. The tax bill at the 25th percentile is around $544, while at the 75th percentile, it rises to approximately $1,465. For those in the 90th percentile, the tax bill can reach up to $1,818. These factors collectively impact homeowners by influencing their annual financial obligations. Higher assessed values and tax rates result in higher property tax bills, which can affect budgeting and financial planning. Compared to the national median property tax rate of 0.99%, the property tax burden in Paragould may be more manageable for some, but it's essential for homeowners to stay informed about their local tax rates and assessments to plan accordingly.
Average Paragould Tax Bill
$767
Average Craighead County Tax Bill
$1,210
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Paragould, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72450 | $268 | $544 | $767 | $1,465 | $1,818 |
Source: Ownwell