Calico Rock, Arkansas Property Taxes
The median property tax rate in Calico Rock, Arkansas is 0.93%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Calico Rock at $34,825, the typical annual property tax bill is $253, significantly lower than the national median of $2,690. Property taxes in Calico Rock are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Calico Rock'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 Calico Rock 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
Calico Rock, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Calico Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calico Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calico Rock 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 Calico Rock, Arkansas
Property taxes in Calico Rock, Arkansas, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Calico Rock is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Calico Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calico Rock 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 Calico Rock's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72519 has both the highest and lowest median property tax rate in the area at 0.93%. Understanding how these areas compare with Calico Rock provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Calico Rock Tax Rate
0.93%
Average Fulton County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calico Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72519 | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Calico Rock, Arkansas
In Calico Rock, 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 Fulton 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 Calico Rock, 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 Calico Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $253, found in zip code 72519.
Average Calico Rock Assessed Value
$34,825
Average Fulton County Assessed Value
$68,050
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Calico Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72519 | $26,890 | $27,025 | $34,825 | $45,575 | $51,020 |
Source: Ownwell
Property Tax Bills Across Calico Rock, Arkansas
In Calico Rock, located in Fulton County, AR, property tax bills are determined based on the assessed value of a home, which is a fraction of its market value. Homeowners in this city experience property tax rates that are relatively low compared to the national median property tax rate of 0.99%. The median home price in Calico Rock is $34,825, leading to median tax bills that are significantly lower than many other regions. Several factors influence the tax bill, including the assessed value of the property, which is calculated by the county assessor, and the local tax rate set by various taxing authorities. For instance, the 25th percentile tax bill is $251, while the 75th percentile tax bill reaches $381, and the 90th percentile tax bill is $458. These figures indicate that even at the higher end, property taxes remain manageable for homeowners. This relatively low property tax burden makes Calico Rock an attractive location for homeowners seeking affordability, as it helps keep overall housing costs down.
Average Calico Rock Tax Bill
$253
Average Fulton County Tax Bill
$483
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Calico Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72519 | $250 | $251 | $253 | $381 | $458 |
Source: Ownwell