Drew County, Arkansas Property Taxes
The median property tax rate in Drew County is 0.81%, 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 Drew County at $62,550, the typical annual property tax bill is $445, significantly below the national median of $2,690. Property taxes in Drew County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Drew County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Monticello or another part of Drew County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Drew County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$507
$470
Ownwell’s Drew County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Drew County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Drew County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Drew County, Arkansas
Property taxes in Drew County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Drew County is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Drew County set these rates annually, and they can vary significantly between different areas within the county. Each year, Drew County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Drew County's effective property tax rate with other areas and the national median. For comparison, the city of Winchester has one of the higher property tax rates in the region at 0.98%, while the city of Star City boasts one of the lowest at 0.71%. Analyzing how Drew County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Drew County Tax Rate
0.81%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Drew County, Arkansas
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dermott | 0.19% | 0.55% | 0.91% | 0.95% | 0.95% |
| Fountain Hill | 0.21% | 0.54% | 0.91% | 0.91% | 0.91% |
| Hamburg | N/A | N/A | N/A | N/A | N/A |
| Monticello | 0.18% | 0.48% | 0.79% | 0.91% | 0.96% |
| Montrose | N/A | N/A | N/A | N/A | N/A |
| Star City | N/A | N/A | N/A | N/A | N/A |
| Tillar | 0.15% | 0.38% | 0.91% | 0.95% | 0.96% |
| Warren | N/A | N/A | N/A | N/A | N/A |
| Wilmar | 0.13% | 0.42% | 0.74% | 0.91% | 0.95% |
| Winchester | 0.15% | 0.28% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Drew County, Arkansas
In Drew County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Drew County Appraisal District. The assessed value, however, 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 Drew County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Monticello has the highest median tax bill at $498, while Winchester has the lowest at $106. Being aware of these valuation processes in Drew County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Drew County Assessed Value
$62,550
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Drew County, Arkansas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dermott | $9,820 | $18,750 | $39,600 | $81,000 | $133,160 |
| Fountain Hill | $13,630 | $24,150 | $52,350 | $102,150 | $145,390 |
| Hamburg | N/A | N/A | N/A | N/A | N/A |
| Monticello | $15,535 | $32,850 | $68,600 | $141,025 | $217,380 |
| Montrose | N/A | N/A | N/A | N/A | N/A |
| Star City | N/A | N/A | N/A | N/A | N/A |
| Tillar | $12,340 | $21,038 | $37,775 | $76,962 | $134,850 |
| Warren | N/A | N/A | N/A | N/A | N/A |
| Wilmar | $12,915 | $25,062 | $50,650 | $106,000 | $176,140 |
| Winchester | $5,450 | $10,450 | $20,325 | $34,188 | $42,900 |
Source: Ownwell
Property Tax Bills Across Drew County, Arkansas
In Drew County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Several factors influence the assessed value, including the home's location, size, and condition. For instance, the median home price in Drew County is $62,550, leading to varying tax bills across different percentiles. Homeowners in Drew County can expect their property tax bills to range significantly. For example, the tax bill at the 25th percentile is $175, while at the 75th percentile, it rises to $947. At the 90th percentile, the tax bill can reach up to $1,640. Cities within the county also show variation, with Monticello having the highest median tax bill at $498 and Winchester the lowest at $106. These property taxes directly impact homeowners, influencing their overall housing costs and financial planning.
Average Drew County Tax Bill
$445
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Drew County, Arkansas
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dermott | $33 | $111 | $246 | $610 | $1,072 |
| Fountain Hill | $72 | $160 | $381 | $746 | $1,146 |
| Hamburg | N/A | N/A | N/A | N/A | N/A |
| Monticello | $66 | $198 | $498 | $1,036 | $1,712 |
| Montrose | N/A | N/A | N/A | N/A | N/A |
| Star City | N/A | N/A | N/A | N/A | N/A |
| Tillar | $35 | $104 | $249 | $605 | $1,136 |
| Warren | N/A | N/A | N/A | N/A | N/A |
| Wilmar | $45 | $136 | $315 | $727 | $1,304 |
| Winchester | $22 | $47 | $106 | $204 | $375 |
Source: Ownwell