Mc Gehee, Arkansas Property Taxes
The median property tax rate in McGehee, AR is 1.06%, slightly higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $43,700 in McGehee, the typical annual property tax bill amounts to $417, which is significantly lower than the national median of $2,690. Property taxes in McGehee 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 McGehee'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 McGehee 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
Mc Gehee, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$463
Ownwell’s MC GEHEE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC GEHEE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC GEHEE 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 Mc Gehee, Arkansas
Property taxes in Mc Gehee, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Gehee is 1.06%, which is higher than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Mc Gehee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Gehee 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 Mc Gehee's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71654 zip code has the highest median property tax rate of 1.06%, while the 71666 zip code has the lowest median tax rate of 0.88%. Understanding how these cities compare with Mc Gehee provides valuable insights into the varying tax landscape across Desha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Gehee Tax Rate
1.06%
Average Desha County Tax Rate
0.95%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Gehee, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71654 | 0.68% | 0.94% | 1.06% | 1.06% | 1.06% |
| 71666 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Mc Gehee, Arkansas
In Mc Gehee, 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 Desha County Appraisal District 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 Mc Gehee, 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 Mc Gehee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $5,933 in the 71666 zip code, while the lowest is $416 in the 71654 zip code.
Average Mc Gehee Assessed Value
$43,700
Average Desha County Assessed Value
$52,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Gehee, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71654 | $9,650 | $18,650 | $43,700 | $84,950 | $136,860 |
| 71666 | $671,100 | $671,100 | $671,100 | $671,100 | $671,100 |
Source: Ownwell
Property Tax Bills Across Mc Gehee, Arkansas
In McGehee, located in Desha 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 McGehee is $43,700. Property taxes are determined by multiplying the assessed value by the local tax rate. For instance, the national median property tax rate is 0.99%, but local rates can vary. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in McGehee can expect tax bills to vary significantly. The 25th percentile tax bill is around $190, while the 75th percentile tax bill reaches $803, and the 90th percentile goes up to $1,289. The highest median tax bill in the area is $5,933 in the zip code 71666, while the lowest is $416 in the zip code 71654. These taxes impact homeowners by contributing to local services like schools, infrastructure, and emergency services, making it essential to understand how they are calculated and managed.
Average Mc Gehee Tax Bill
$417
Average Desha County Tax Bill
$449
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Gehee, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71654 | $104 | $189 | $416 | $802 | $1,287 |
| 71666 | $5,933 | $5,933 | $5,933 | $5,933 | $5,933 |
Source: Ownwell