Jonesboro, Arkansas Property Taxes
The median property tax rate in Jonesboro, AR is 0.75%, which is lower than both the national median of 0.99% and Arkansas's state median of 0.84%. With a median home value of $87,350 in Jonesboro, the typical annual property tax bill amounts to $620, significantly below the national median of $2,690. Property taxes in Jonesboro are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Jonesboro'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 Jonesboro 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
Jonesboro, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$655
$608
Ownwell’s Jonesboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jonesboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jonesboro 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 Jonesboro, Arkansas
Property taxes in Jonesboro, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jonesboro is 0.75%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Jonesboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jonesboro 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 Jonesboro's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72401 has the highest median property tax rate of 0.75%, while zip code 72405 has the lowest median tax rate of 0.73%. Understanding how these areas compare with Jonesboro 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 Jonesboro Tax Rate
0.75%
Average Greene County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jonesboro, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72401 | 0.59% | 0.66% | 0.75% | 0.86% | 0.86% |
| 72405 | 0.55% | 0.59% | 0.73% | 0.75% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Jonesboro, Arkansas
In Jonesboro, 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 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 Jonesboro, 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. The highest median tax bill is $903 in zip code 72405, while the lowest median tax bill is $606 in zip code 72401. Being aware of these valuation processes in Jonesboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jonesboro Assessed Value
$87,350
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 Jonesboro, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72401 | $10,955 | $32,162 | $74,700 | $146,850 | $198,240 |
| 72405 | $41,110 | $91,575 | $129,800 | $181,450 | $361,050 |
Source: Ownwell
Property Tax Bills Across Jonesboro, Arkansas
In Jonesboro, located in Greene County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Jonesboro is $87,350. The assessed value is then multiplied by the local property tax rate to determine the tax bill. For reference, the national median property tax rate is 0.99%. Several factors influence the final tax bill, including the home's location within specific zip codes, which can vary significantly. For instance, zip code 72405 has the highest median tax bill at $903, while zip code 72401 has the lowest at $606. Homeowners in the 25th percentile can expect a tax bill around $242, while those in the 75th percentile may see bills up to $1,093. The top 10% of property tax bills can reach as high as $1,623. These tax bills directly impact homeowners by affecting their annual budget and financial planning, making it crucial for them to understand how their property taxes are calculated and what factors contribute to their overall tax liability.
Average Jonesboro Tax Bill
$620
Average Greene County Tax Bill
$820
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Jonesboro, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72401 | $114 | $233 | $606 | $1,086 | $1,591 |
| 72405 | $445 | $603 | $903 | $1,427 | $2,822 |
Source: Ownwell