Wynne, Arkansas Property Taxes
The median property tax rate in Wynne, AR is 0.74%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Wynne at $73,550, the typical annual property tax bill amounts to $529, significantly less than the national median of $2,690. Property taxes in Wynne are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Wynne'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 Wynne or another part of Cross County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wynne, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$544
$505
Ownwell’s Wynne Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Wynne with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Wynne to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more granular trends, you can scroll down to explore localized information at the neighborhood level. Your property’s assessed value is the value assigned by Cross County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Wynne, Arkansas
Property taxes in Wynne, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wynne is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Wynne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wynne 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 Wynne's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72396 has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Wynne provides valuable insights into the varying tax landscape across Cross County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wynne Tax Rate
0.74%
Average Cross County Tax Rate
0.77%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wynne, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72396 | 0.25% | 0.49% | 0.74% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Wynne, Arkansas
In Wynne, 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 Cross 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 Wynne, 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 Wynne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Wynne is $529, with the highest and lowest median tax bills both being found in the 72396 zip code.
Average Wynne Assessed Value
$73,550
Average Cross County Assessed Value
$66,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wynne, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72396 | $17,150 | $39,300 | $73,550 | $126,600 | $195,630 |
Source: Ownwell
Property Tax Bills Across Wynne, Arkansas
In Wynne, located in Cross County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Wynne is $73,550. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile at approximately $246 and the 75th percentile reaching up to $940. For those in the 90th percentile, property tax bills can be as high as $1,536. Factors influencing the tax bill include the assessed value of the property, local tax rates, and any applicable exemptions or deductions. The highest median tax bill in the area is $529, which is relatively low compared to the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors can help homeowners in Wynne better anticipate their property tax obligations and manage their finances more effectively.
Average Wynne Tax Bill
$529
Average Cross County Tax Bill
$467
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Wynne, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72396 | $92 | $246 | $529 | $940 | $1,536 |
Source: Ownwell