Pearcy, Arkansas Property Taxes
The median property tax rate in Pearcy, AR is 0.79%, 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 $52,725 in Pearcy, the typical annual property tax bill is $407, significantly below the national median of $2,690. Property taxes in Pearcy are calculated based on the tax-assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Pearcy'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 Pearcy or elsewhere in Hot Spring County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pearcy, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$417
$387
Ownwell’s Pearcy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pearcy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pearcy 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 Pearcy, Arkansas
Property taxes in Pearcy, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pearcy is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Pearcy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pearcy 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 Pearcy's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71964 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Pearcy provides valuable insights into the varying tax landscape across Hot Spring County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pearcy Tax Rate
0.79%
Average Hot Spring County Tax Rate
0.79%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pearcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71964 | 0.21% | 0.48% | 0.79% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Pearcy, Arkansas
In Pearcy, 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 Hot Spring County Assessor 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 Pearcy, 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 Pearcy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Pearcy is $407, found in the 71964 zip code, which also has the lowest median tax bill of $407.
Average Pearcy Assessed Value
$52,725
Average Hot Spring County Assessed Value
$64,425
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pearcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71964 | $8,025 | $24,856 | $52,725 | $115,138 | $184,325 |
Source: Ownwell
Property Tax Bills Across Pearcy, Arkansas
In Pearcy, located in Hot Spring 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 Pearcy stands at $52,725. Property taxes in this area are influenced by various factors, including the property's assessed value, local tax rates, and applicable exemptions. The tax bill for homeowners can vary significantly. For instance, at the 25th percentile, the tax bill is around $135, while at the 75th percentile, it rises to approximately $955. For those at the 90th percentile, the tax bill can be as high as $1,658. This variation shows how different factors, such as property improvements and location, can impact the final tax amount. Homeowners in Pearcy face a median tax bill of $407, which is relatively modest compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Pearcy Tax Bill
$407
Average Hot Spring County Tax Bill
$477
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Pearcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71964 | $53 | $135 | $407 | $955 | $1,658 |
Source: Ownwell