Alma, Arkansas Property Taxes
The median property tax rate in Alma, Arkansas is 0.54%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $182,275 in Alma, the typical annual property tax bill amounts to $967, which is well below the national median of $2,690. Property taxes in Alma are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Alma'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 Alma or any other part of the city, knowing the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alma, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$984
$913
Ownwell’s Alma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alma 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 Alma, Arkansas
Property taxes in Alma, Arkansas, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Alma is 0.54%, which is below the U.S. national median of 0.99%. Local government entities within Alma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alma 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 Alma's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72921 zip code has both the highest and lowest median property tax rate of 0.54%, reflecting the uniformity in tax rates within the area. Understanding how these cities compare with Alma provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alma Tax Rate
0.54%
Average Crawford County Tax Rate
0.52%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alma, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72921 | 0.21% | 0.40% | 0.54% | 0.72% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Alma, Arkansas
In Alma, 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 Crawford 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. 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 Alma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Alma, the zip code with the highest and lowest median tax bill is 72921, both standing at $967.
Average Alma Assessed Value
$182,275
Average Crawford County Assessed Value
$143,650
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alma, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72921 | $51,485 | $104,912 | $182,275 | $251,212 | $347,705 |
Source: Ownwell
Property Tax Bills Across Alma, Arkansas
In Alma, Crawford County, AR, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $182,275, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $473, while at the 75th percentile, it rises to approximately $1,504. For those at the 90th percentile, the tax bill can reach up to $2,241. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Alma's rates can be considered moderate. Homeowners should be aware of these factors as they can significantly impact annual expenses, affecting overall affordability and financial planning. Understanding how property taxes are calculated helps homeowners better manage their budgets and anticipate future costs.
Average Alma Tax Bill
$967
Average Crawford County Tax Bill
$716
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Alma, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72921 | $176 | $473 | $967 | $1,504 | $2,241 |
Source: Ownwell