Jefferson, Arkansas Property Taxes
The median property tax rate in Jefferson, Arkansas is 0.87%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $74,050 in Jefferson, the typical annual property tax bill amounts to $589, which is significantly lower than the national median of $2,690. Property taxes in Jefferson are determined based on the assessed value, which is usually less than the market value due to exemptions like the primary residence and agricultural exemptions. Navigating Jefferson's property tax system, exploring the available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you're in the heart of Jefferson or another part of the city, gaining a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jefferson, 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 Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, Arkansas
Property taxes in Jefferson, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 0.52%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other counties in Arkansas and the national median. For comparison, Jefferson's rate is lower than the highest median property tax rate in Arkansas, which is 0.87% in zip code 72079, and matches the lowest median tax rate of 0.52% in the same zip code. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
0.87%
Average Grant County Tax Rate
0.85%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72079 | 0.73% | 0.78% | 0.87% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, Arkansas
In Jefferson, 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 local 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 Jefferson, 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Jefferson is $74,050, with tax bills ranging from $307 at the 25th percentile to $1,877 at the 90th percentile. Notably, the zip code 72079 has both the highest and lowest median tax bill at $589.
Average Jefferson Assessed Value
$74,050
Average Grant County Assessed Value
$100,075
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72079 | $10,825 | $38,950 | $74,050 | $157,250 | $234,450 |
Source: Ownwell
Property Tax Bills Across Jefferson, Arkansas
In Jefferson, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Jefferson can expect their property tax bills to vary significantly depending on the assessed value of their homes and the local tax rate. For example, the median home price in Jefferson is $74,050. Homeowners at the 25th percentile can expect a tax bill around $307, while those at the 75th percentile might see bills as high as $1,172. At the 90th percentile, tax bills can reach up to $1,877. This variation demonstrates how property taxes can impact homeowners differently based on the value of their property. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Jefferson's rates measure up. Homeowners should be aware of these factors as they can significantly influence their annual financial obligations.
Average Jefferson Tax Bill
$589
Average Grant County Tax Bill
$770
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72079 | $92 | $307 | $589 | $1,172 | $1,877 |
Source: Ownwell