Marmaduke, Arkansas Property Taxes
The median property tax rate in Marmaduke, AR is 0.78%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. Given the median home value in Marmaduke, the typical annual property tax bill amounts to $449, significantly less than the national median of $2,690. Property taxes in Marmaduke are calculated based on the tax assessed value, which is often below the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Marmaduke's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're residing in the heart of Marmaduke or another part of Greene County, gaining insights into the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marmaduke, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$483
Ownwell’s Marmaduke Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marmaduke with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marmaduke 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 Marmaduke, Arkansas
Property taxes in Marmaduke, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marmaduke is 0.78%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Marmaduke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marmaduke 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 Marmaduke's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72443 zip code has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Marmaduke 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 Marmaduke Tax Rate
0.78%
Average Greene County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marmaduke, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72443 | 0.59% | 0.66% | 0.78% | 0.82% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Marmaduke, Arkansas
In Marmaduke, 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 Marmaduke, 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. Marmaduke's median home price is $61,950, with tax bills ranging from $241 at the 25th percentile to $1,317 at the 90th percentile. The zip code 72443 has both the highest and lowest median tax bill at $449. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marmaduke Assessed Value
$61,950
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 Marmaduke, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72443 | $13,350 | $32,125 | $61,950 | $111,412 | $185,725 |
Source: Ownwell
Property Tax Bills Across Marmaduke, Arkansas
In Marmaduke, property tax bills are determined by assessing the value of a homeowner’s property and applying the local tax rate to this assessed value. The median home price in Marmaduke is $61,950, which is significantly lower than many other areas. Property tax bills can vary widely, ranging from the 25th percentile at $241 to the 75th percentile at $839, and reaching up to $1,317 at the 90th percentile. This variation is influenced by factors such as property size, location, and any improvements made to the property. For homeowners, these property taxes fund essential services like schools, public safety, and infrastructure, directly impacting community quality of life. Compared to the national median property tax rate of 0.99%, Marmaduke’s property tax bills reflect the local economic conditions and property values. Homeowners in Marmaduke benefit from relatively lower tax bills, which can be a significant advantage in terms of cost savings and affordability.
Average Marmaduke Tax Bill
$449
Average Greene County Tax Bill
$820
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Marmaduke, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72443 | $111 | $241 | $449 | $839 | $1,317 |
Source: Ownwell