Gepp, Arkansas Property Taxes
The median property tax rate in Gepp, Arkansas is 0.93%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value in Gepp of $70,600, the typical annual property tax bill amounts to $585, which is significantly lower than the national median of $2,690. Property taxes in Gepp are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Gepp'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 Gepp or another part of Fulton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gepp, 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 Gepp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gepp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gepp 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 Gepp, Arkansas
Property taxes in Gepp, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gepp is 0.93%, which is just below the U.S. national median of 0.99%. Local government entities within Gepp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gepp 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 Gepp's effective property tax rate to other areas within Fulton County and the national median. For comparison, the zip code 72538 has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Gepp 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 Gepp 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 Gepp, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72538 | 0.62% | 0.83% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Gepp, Arkansas
In Gepp, 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 Gepp, 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 Gepp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72538, with a median tax bill of $585.
Average Gepp Assessed Value
$70,600
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 Gepp, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72538 | $24,600 | $41,538 | $70,600 | $104,500 | $160,595 |
Source: Ownwell
Property Tax Bills Across Gepp, Arkansas
In Gepp, located in Fulton County, AR, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the tax bill. For homeowners in Gepp, the median home price is $70,600. Property tax bills can vary significantly, with the 25th percentile at $334 and the 75th percentile reaching $916. At the 90th percentile, homeowners might see tax bills as high as $1,411. Several factors impact these bills, including the property's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Gepp's property taxes can be relatively moderate, providing some relief to homeowners. However, higher assessed values or additional levies can increase the financial burden. Understanding these factors helps homeowners manage their expenses and plan for future financial obligations.
Average Gepp Tax Bill
$585
Average Fulton County Tax Bill
$483
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Gepp, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72538 | $210 | $334 | $585 | $916 | $1,411 |
Source: Ownwell