Wickes, Arkansas Property Taxes
The median property tax rate in Wickes, AR is 1.01%, slightly higher than the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $43,550 in Wickes, the typical annual property tax bill amounts to $446, which is significantly lower than the national median of $2,690. Property taxes in Wickes are determined based on the tax assessed value, which usually falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wickes’ property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wickes 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
Wickes, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Wickes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wickes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wickes 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 Wickes, Arkansas
Property taxes in Wickes, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wickes is 0.52%, which is lower than both the Arkansas state median of 0.62% and the U.S. national median of 0.99%. Local government entities within Wickes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wickes 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 Wickes's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71973 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Wickes provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wickes Tax Rate
1.01%
Average Howard County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wickes, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71973 | 0.92% | 1.01% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Wickes, Arkansas
In Wickes, 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 Howard 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 Wickes, 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 median home price in Wickes is $43,550, with tax bills ranging from $271 at the 25th percentile to $1,310 at the 90th percentile. The zip code 71973 has both the highest and lowest median tax bill at $446. Being aware of these valuation processes in Wickes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wickes Assessed Value
$43,550
Average Howard County Assessed Value
$58,900
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wickes, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71973 | $7,450 | $21,175 | $43,550 | $90,050 | $133,200 |
Source: Ownwell
Property Tax Bills Across Wickes, Arkansas
In Wickes, AR, property tax bills are calculated based on the property's assessed value and the local tax rate. The assessed value is typically a percentage of the property's market value. For instance, if the median home price is $43,550, the assessed value would be a fraction of this amount, as determined by local assessment rules. The local tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For homeowners in Wickes, the tax bills can vary significantly. At the 25th percentile, the tax bill is around $271, while at the 75th percentile, it rises to about $911. The 90th percentile sees tax bills as high as $1,310. Comparatively, the highest and lowest median tax bills in the area are both $446, reflecting the uniformity within the zip code 71973. The national median property tax rate stands at 0.99%, providing a benchmark for understanding local rates. Homeowners in Wickes should be aware of these factors to better anticipate their property tax obligations.
Average Wickes Tax Bill
$446
Average Howard County Tax Bill
$510
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Wickes, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71973 | $165 | $271 | $446 | $911 | $1,310 |
Source: Ownwell