Faulkner County Property Taxes
The median property tax rate in Faulkner County is 0.96%, which is just below the national median of 0.99% but higher than Arkansas's state median of 0.84%. With the median home value in Faulkner County at $149,500, the typical annual property tax bill is approximately $1,390, significantly lower than the national median of $2,690. Property taxes in Faulkner County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Faulkner 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 Conway or another part of Faulkner County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Faulkner County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,435
$1,332
Ownwell’s Faulkner County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Faulkner County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Faulkner 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 Faulkner County, Arkansas
Property taxes in Faulkner County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Faulkner County is 0.96%, which is lower than the U.S. national median of 0.99%. Local government entities within Faulkner County set these rates annually, and they can vary significantly between different areas within the county. Each year, Faulkner 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 Faulkner County's effective property tax rate with other counties and the national median. For comparison, the city of Bigelow has one of the higher property tax rates in Arkansas at 1.01%, while the city of Quitman boasts one of the lowest at 0.89%. Analyzing how Faulkner County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Faulkner County Tax Rate
0.96%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Faulkner County, Arkansas
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bigelow | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
| Cabot | 0.73% | 0.85% | 0.96% | 0.96% | 0.96% |
| Center Ridge | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
| Conway | 0.75% | 0.89% | 0.96% | 1.01% | 1.01% |
| Damascus | 0.63% | 0.80% | 0.92% | 0.98% | 1.01% |
| El Paso | 0.90% | 0.92% | 0.96% | 0.96% | 0.96% |
| Enola | 0.75% | 0.89% | 1.00% | 1.00% | 1.03% |
| Greenbrier | 0.73% | 0.88% | 0.98% | 1.01% | 1.06% |
| Guy | 0.73% | 0.90% | 1.01% | 1.08% | 1.09% |
| Jacksonville | 0.73% | 0.85% | 0.98% | 0.98% | 0.98% |
| Maumelle | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
| Mayflower | 0.71% | 0.85% | 0.98% | 1.04% | 1.06% |
| Mount Vernon | 0.66% | 0.87% | 1.00% | 1.00% | 1.00% |
| North Little Rock | 0.96% | 0.96% | 0.98% | 0.98% | 0.98% |
| Quitman | 0.55% | 0.76% | 0.89% | 0.91% | 1.01% |
| Sherwood | 0.65% | 0.78% | 0.90% | 0.98% | 0.98% |
| Twin Groves | 0.89% | 0.96% | 1.00% | 1.03% | 1.07% |
| Vilonia | 0.71% | 0.89% | 0.96% | 1.02% | 1.02% |
| Wooster | 0.64% | 0.79% | 0.98% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Faulkner County, Arkansas
In Faulkner 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 Faulkner 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 Faulkner 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, Maumelle has the highest median tax bill at $2,516, while Bigelow has the lowest at $272. Being aware of these valuation processes in Faulkner County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Faulkner County, Arkansas
Source: Ownwell
$2,150
$129,813
$257,475
Average Faulkner County Assessed Value
$149,500
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Faulkner County, Arkansas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bigelow | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 |
| Cabot | $60,750 | $93,075 | $149,850 | $236,400 | $336,550 |
| Center Ridge | $81,700 | $81,700 | $81,700 | $81,700 | $81,700 |
| Conway | $56,800 | $108,950 | $156,100 | $219,812 | $310,400 |
| Damascus | $21,800 | $46,325 | $90,700 | $144,925 | $227,630 |
| El Paso | $146,390 | $157,450 | $173,500 | $207,050 | $239,730 |
| Enola | $24,350 | $49,500 | $93,850 | $172,700 | $245,200 |
| Greenbrier | $45,800 | $95,150 | $156,000 | $237,200 | $324,000 |
| Guy | $20,840 | $50,950 | $94,650 | $153,550 | $200,620 |
| Jacksonville | $22,985 | $38,125 | $78,850 | $124,400 | $206,590 |
| Maumelle | $103,815 | $161,438 | $257,475 | $353,512 | $411,135 |
| Mayflower | $24,160 | $53,250 | $102,200 | $169,250 | $264,680 |
| Mount Vernon | $20,725 | $40,588 | $89,800 | $156,100 | $253,600 |
| North Little Rock | $42,350 | $73,800 | $118,925 | $170,088 | $190,300 |
| Quitman | $15,565 | $41,688 | $77,575 | $147,188 | $220,980 |
| Sherwood | $29,400 | $63,762 | $143,750 | $238,300 | $320,150 |
| Twin Groves | $13,800 | $19,500 | $52,000 | $66,350 | $143,180 |
| Vilonia | $38,995 | $84,138 | $142,050 | $203,225 | $293,140 |
| Wooster | $22,460 | $55,450 | $115,100 | $232,250 | $321,280 |
Source: Ownwell
Property Tax Bills Across Faulkner County, Arkansas
In Faulkner County, AR, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the final tax bill. Factors such as property size, location, and improvements can influence the assessed value, impacting the overall tax bill. For homeowners in Faulkner County, the tax bill can vary significantly. The median home price stands at $149,500, with tax bills ranging from the 25th percentile at $847 to the 90th percentile at $2,903. The highest median tax bill in the county is found in Maumelle at $2,516, while Bigelow has the lowest at $272. Compared to the national median property tax rate of 0.99%, Faulkner County's rates can offer some relief to homeowners, but the variability in tax bills means that individual circumstances and property specifics play a crucial role in determining the exact amount owed.
Average Faulkner County Tax Bill
$1,390
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Faulkner County, Arkansas
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bigelow | $272 | $272 | $272 | $272 | $272 |
| Cabot | $438 | $797 | $1,277 | $2,277 | $3,070 |
| Center Ridge | $804 | $804 | $804 | $804 | $804 |
| Conway | $494 | $984 | $1,449 | $2,057 | $2,954 |
| Damascus | $191 | $409 | $732 | $1,285 | $2,083 |
| El Paso | $1,389 | $1,455 | $1,673 | $1,994 | $2,240 |
| Enola | $242 | $443 | $860 | $1,688 | $2,345 |
| Greenbrier | $392 | $846 | $1,478 | $2,237 | $3,044 |
| Guy | $228 | $492 | $897 | $1,411 | $1,929 |
| Jacksonville | $205 | $344 | $708 | $1,098 | $1,955 |
| Maumelle | $1,018 | $1,580 | $2,516 | $3,452 | $4,013 |
| Mayflower | $219 | $463 | $924 | $1,652 | $2,421 |
| Mount Vernon | $185 | $371 | $770 | $1,375 | $2,398 |
| North Little Rock | $414 | $713 | $1,137 | $1,655 | $1,857 |
| Quitman | $137 | $331 | $620 | $1,228 | $1,922 |
| Sherwood | $251 | $538 | $1,245 | $2,053 | $2,797 |
| Twin Groves | $146 | $200 | $502 | $561 | $1,395 |
| Vilonia | $337 | $711 | $1,323 | $1,918 | $2,753 |
| Wooster | $238 | $551 | $977 | $2,138 | $3,128 |
Source: Ownwell