Pearcy, Arkansas Property Taxes
The median property tax rate in Pearcy, AR is 0.48%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Pearcy, the typical annual property tax bill is $731, well below the national median of $2,690. Property taxes in Pearcy are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pearcy's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Pearcy 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
Pearcy, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$734
Ownwell’s Pearcy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pearcy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pearcy 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 Pearcy, Arkansas
Property taxes in Pearcy, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pearcy is 0.48%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Pearcy set these rates annually, and they can vary across different neighborhoods. Each year, Pearcy 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 Pearcy's effective property tax rate to other areas in Garland County and the national median. For comparison, the zip code 71964 has the same median property tax rate of 0.48%, which is consistent across the region. Understanding how these cities compare with Pearcy provides valuable insights into the varying tax landscape across Garland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pearcy Tax Rate
0.48%
Average Garland County Tax Rate
0.59%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pearcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71964 | 0.15% | 0.32% | 0.48% | 0.69% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Pearcy, Arkansas
In Pearcy, 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 Garland County Appraisal District 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 Pearcy, 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. Pearcy homeowners should note that the highest and lowest median tax bills are both $731.00 in the 71964 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pearcy Assessed Value
$152,875
Average Garland County Assessed Value
$162,300
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pearcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71964 | $46,990 | $86,025 | $152,875 | $225,812 | $318,320 |
Source: Ownwell
Property Tax Bills Across Pearcy, Arkansas
Property tax bills in Pearcy, located in Garland County, AR, are calculated based on the assessed value of homes and the local tax rate. The assessed value is typically a percentage of the market value of the property. For instance, if a home is valued at the median home price of $152,875, the tax bill can vary significantly depending on specific factors like property location and applicable exemptions. In Pearcy, the annual property tax bill ranges from $346 at the 25th percentile to $2,057 at the 90th percentile, indicating a wide disparity based on property characteristics and assessed values. The highest median tax bill recorded in the area is $731, which aligns with the national median property tax rate of 0.99%. These property tax bills impact homeowners by influencing their annual expenses and potentially affecting their long-term investment in their property. Understanding these factors helps homeowners plan better financially and make informed decisions about property ownership in Pearcy.
Average Pearcy Tax Bill
$731
Average Garland County Tax Bill
$863
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Pearcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71964 | $129 | $346 | $731 | $1,286 | $2,057 |
Source: Ownwell