West Fork, Arkansas Property Taxes
The median property tax rate in West Fork, AR is 0.33%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $58,750 in West Fork, the typical annual property tax bill is around $196, which is well below the national median of $2,690. Property taxes in West Fork are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding West Fork'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 West Fork 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
West Fork, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$194
$180
Ownwell’s West Fork Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Fork with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Fork 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 West Fork, Arkansas
Property taxes in West Fork, Arkansas, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in West Fork is 0.33%, which is significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within West Fork set these rates annually, and they can vary across different neighborhoods. Each year, West Fork 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. Understanding how West Fork's effective property tax rate compares to other areas in Crawford County and the national median provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Fork Tax Rate
0.33%
Average Crawford County Tax Rate
0.52%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Fork, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72774 | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across West Fork, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in West Fork, Arkansas. 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 in West Fork 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72774 has both the highest and lowest median tax bill in the area, at $196 annually.
Average West Fork Assessed Value
$58,750
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 West Fork, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72774 | $58,750 | $58,750 | $58,750 | $58,750 | $58,750 |
Source: Ownwell
Property Tax Bills Across West Fork, Arkansas
In West Fork, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For example, with a median home price of $58,750, the assessed value is determined by applying the local assessment rate. The property tax rate in West Fork is then applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including the property's location, size, and any applicable exemptions. In West Fork, the median property tax bill is consistent at $196, which remains significantly lower than the national median property tax rate of 0.99%. This relatively low tax rate can be beneficial for homeowners, providing them with more disposable income and potentially making homeownership more affordable. Understanding how property tax bills are calculated can help homeowners in West Fork better anticipate their annual expenses and manage their finances effectively.
Average West Fork Tax Bill
$196
Average Crawford County Tax Bill
$716
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across West Fork, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72774 | $196 | $196 | $196 | $196 | $196 |
Source: Ownwell