Peach Orchard, Arkansas Property Taxes
The median property tax rate in Peach Orchard, AR is 0.76%, 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 Peach Orchard at $64,050, the typical annual property tax bill is around $426, significantly below the national median of $2,690. Property taxes in Peach Orchard are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Peach Orchard'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 Peach Orchard or another part of Greene County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Peach Orchard, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$487
$452
Ownwell’s Peach Orchard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peach Orchard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peach Orchard 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 Peach Orchard, Arkansas
Property taxes in Peach Orchard, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peach Orchard is 0.43%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Peach Orchard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peach Orchard 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 Peach Orchard's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72453 zip code has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Peach Orchard 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 Peach Orchard Tax Rate
0.76%
Average Greene County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peach Orchard, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72453 | 0.61% | 0.67% | 0.76% | 0.79% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Peach Orchard, Arkansas
In Peach Orchard, 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 Peach Orchard, 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 Peach Orchard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both $426, found in the 72453 zip code.
Average Peach Orchard Assessed Value
$64,050
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 Peach Orchard, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72453 | $9,620 | $46,600 | $64,050 | $75,500 | $139,340 |
Source: Ownwell
Property Tax Bills Across Peach Orchard, Arkansas
In Peach Orchard, Greene County, AR, property tax bills are determined by assessing the value of a home and applying the local tax rate. The median home price in Peach Orchard is $64,050. Property taxes are calculated based on this assessed value, with tax bills typically falling between $355 at the 25th percentile and $547 at the 75th percentile. The highest median tax bill recorded is $426, which is consistent across the zip code 72453. Several factors influence the tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how these factors interact is essential, as it directly impacts their annual financial obligations. Comparing the local tax rate to the national median property tax rate of 0.99%, Peach Orchard's rates can be seen as relatively moderate, making it an appealing location for property investment.
Average Peach Orchard Tax Bill
$426
Average Greene County Tax Bill
$820
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Peach Orchard, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72453 | $75 | $355 | $426 | $547 | $1,164 |
Source: Ownwell