Bigelow, Arkansas Property Taxes
The median property tax rate in Bigelow, AR is 1.01%, slightly higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Bigelow being $27,000, the typical annual property tax bill reaches $272, which is below the national median of $2,690. Property taxes in Bigelow are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bigelow'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 Bigelow 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
Bigelow, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$273
$253
Ownwell’s Bigelow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bigelow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bigelow 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 Bigelow, Arkansas
Property taxes in Bigelow, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bigelow is 0.63%, lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Bigelow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bigelow 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 Bigelow's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in Faulkner County is 0.63%, while the lowest median tax rate is also 0.63%. Understanding how these cities compare with Bigelow provides valuable insights into the varying tax landscape across Faulkner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bigelow Tax Rate
1.01%
Average Faulkner County Tax Rate
0.96%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bigelow, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72016 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Bigelow, Arkansas
In Bigelow, 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 Faulkner County 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 Bigelow, 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 Bigelow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bigelow is $272 in the 72016 zip code, which also marks the lowest median tax bill, reflecting a consistent property tax landscape in the area.
Average Bigelow Assessed Value
$27,000
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 Bigelow, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72016 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 |
Source: Ownwell
Property Tax Bills Across Bigelow, Arkansas
In Bigelow, located in Faulkner County, AR, property tax bills are calculated based on the assessed value of your home. The assessment process involves evaluating the market value of your property, which is then multiplied by an assessment ratio set by the state. This assessed value is further multiplied by the local tax rate to determine your annual property tax bill. For instance, with a median home price of $27,000 in Bigelow, homeowners can expect property tax bills around $272, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax rate can be attributed to the local policies and the economic conditions of the region. Factors such as property size, location, and any improvements made can influence the assessed value, thereby affecting the final tax bill. For homeowners, understanding these factors is crucial as they can impact annual financial planning and the overall affordability of owning property in Bigelow.
Average Bigelow Tax Bill
$272
Average Faulkner County Tax Bill
$1,390
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bigelow, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72016 | $272 | $272 | $272 | $272 | $272 |
Source: Ownwell