Beech Grove, Arkansas Property Taxes
The median property tax rate in Beech Grove, AR is 0.80%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Beech Grove, the typical annual property tax bill reaches $690, significantly below the national median of $2,690. Property taxes in Beech Grove 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 Beech Grove'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 Beech Grove 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
Beech Grove, 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 Beech Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beech Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beech Grove 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 Beech Grove, Arkansas
Property taxes in Beech Grove, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beech Grove is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Beech Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beech Grove 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 Beech Grove's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72412 zip code has the highest median property tax rate of 0.80%, while the 72412 zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Beech Grove provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beech Grove Tax Rate
0.80%
Average Greene County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beech Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72412 | 0.56% | 0.70% | 0.80% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Beech Grove, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Beech Grove, Arkansas. 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 Greene 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 Beech Grove, 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. For example, the highest median tax bill in Beech Grove is $690 in the 72412 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beech Grove Assessed Value
$92,525
Average Greene County Assessed Value
$101,950
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beech Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72412 | $22,950 | $52,150 | $92,525 | $151,712 | $251,280 |
Source: Ownwell
Property Tax Bills Across Beech Grove, Arkansas
In Beech Grove, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $92,525, the assessed value determines the foundation for the tax bill. The local tax rate is then applied to this value to calculate the final tax amount. Factors such as property location within Greene County and any applicable exemptions or deductions also influence the final bill. Homeowners in Beech Grove can expect varying tax bills. For example, the 25th percentile tax bill is around $381, while the 75th percentile reaches $1,116. At the higher end, the 90th percentile tax bill can soar to $1,994. The highest and lowest median tax bills in the area both stand at $690, reflecting some uniformity in certain zones. Compared to the national median property tax rate of 0.99%, Beech Grove's tax rates can be considered relatively moderate, offering some financial relief to homeowners.
Average Beech Grove Tax Bill
$690
Average Greene County Tax Bill
$820
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Beech Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72412 | $163 | $381 | $690 | $1,116 | $1,994 |
Source: Ownwell