Turrell, Arkansas Property Taxes
The median property tax rate in Turrell, AR is 0.96%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $35,850 in Turrell, the typical annual property tax bill amounts to $344, which is significantly lower than the national median of $2,690. Property taxes in Turrell are determined based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Turrell'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 Turrell 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
Turrell, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$344
$319
Ownwell’s Turrell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Turrell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Turrell 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 Turrell, Arkansas
Property taxes in Turrell, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Turrell is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Turrell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Turrell 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 Turrell's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72384 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Turrell provides valuable insights into the varying tax landscape across Crittenden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Turrell Tax Rate
0.96%
Average Crittenden County Tax Rate
0.76%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Turrell, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72384 | 0.78% | 0.90% | 0.96% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Turrell, Arkansas
In Turrell, 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 Crittenden 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. In Turrell, the median home price is $35,850, with tax bills varying significantly. For instance, the 25th percentile tax bill is $206, while the 75th percentile tax bill is $570, and the 90th percentile tax bill is $995. 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.
Average Turrell Assessed Value
$35,850
Average Crittenden County Assessed Value
$81,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Turrell, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72384 | $6,310 | $20,890 | $35,850 | $63,650 | $121,950 |
Source: Ownwell
Property Tax Bills Across Turrell, Arkansas
In Turrell, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners, this means the tax bill reflects both the value of their property and the local tax rate. In Crittenden County, where Turrell is located, the median home price is $35,850. The tax bills vary significantly, ranging from the 25th percentile at $206 to the 90th percentile at $995. The highest median tax bill in the area is $344, which is significantly lower than the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value and the local tax rate. These taxes fund essential public services such as schools, roads, and emergency services, directly affecting homeowners by contributing to community development and infrastructure. By understanding how their property tax bill is determined, homeowners in Turrell can better anticipate and manage their annual expenses.
Average Turrell Tax Bill
$344
Average Crittenden County Tax Bill
$662
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Turrell, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72384 | $67 | $206 | $344 | $570 | $995 |
Source: Ownwell