Fulton, Arkansas Property Taxes
The median property tax rate in Fulton, Arkansas is 0.82%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $27,350 in Fulton, the typical annual property tax bill is $161, significantly below the national median of $2,690. Property taxes in Fulton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding Fulton'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 Fulton or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fulton, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$224
Ownwell’s Fulton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fulton using just two simple inputs. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Fulton to provide an accurate estimate of your property tax bill. This valuable tool offers clarity on potential tax obligations, making it easier to plan for future expenses. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value, determined by the county, is used for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Fulton, Arkansas
Property taxes in Fulton, Arkansas, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Fulton is 0.32%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Fulton set these rates annually, which can vary across different neighborhoods. Each year, Fulton 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 Fulton's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in Arkansas is 0.61%, while the lowest median tax rate is also 0.61%. Understanding how these cities compare with Fulton provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fulton Tax Rate
0.82%
Average Hempstead County Tax Rate
0.77%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fulton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71838 | 0.18% | 0.78% | 0.82% | 0.84% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Fulton, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fulton, 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 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. 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 Fulton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $161.00 in the 71838 zip code, while the lowest median tax bill is also $161.00 in the same zip code.
Average Fulton Assessed Value
$27,350
Average Hempstead County Assessed Value
$47,525
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fulton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71838 | $4,515 | $11,162 | $27,350 | $60,938 | $110,050 |
Source: Ownwell
Property Tax Bills Across Fulton, Arkansas
In Fulton, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including the property's location within the county, any applicable exemptions, and the specific tax rates set by local jurisdictions. For homeowners in Fulton, the median home price is $27,350. Based on this, the property tax bills can vary significantly. The 25th percentile tax bill is $56, while the 75th percentile reaches $385, and the 90th percentile climbs to $945. Compared to the national median property tax rate of 0.99%, Fulton's property tax rates can be relatively low, offering some financial relief to homeowners. Understanding how these factors come together helps homeowners anticipate their annual property tax obligations and plan accordingly. It also highlights the importance of keeping track of any changes in property assessments and local tax rates.
Average Fulton Tax Bill
$161
Average Hempstead County Tax Bill
$306
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Fulton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71838 | $19 | $56 | $161 | $385 | $945 |
Source: Ownwell