Calico Rock, Arkansas Property Taxes
The median property tax rate in Calico Rock, AR is 0.84%, aligning with the Arkansas state median but lower than the national median of 0.99%. With a median home value of $63,825 in Calico Rock, the typical annual property tax bill amounts to $456, significantly less than the national median of $2,690. Property taxes in Calico Rock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Calico Rock'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 Calico Rock 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
Calico Rock, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$536
Ownwell’s Calico Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calico Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calico Rock 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 Calico Rock, Arkansas
Property taxes in Calico Rock, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calico Rock is 0.84%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Calico Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calico Rock 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. For comparison, the zip code 72519 has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Calico Rock provides valuable insights into the varying tax landscape across Izard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Calico Rock Tax Rate
0.84%
Average Izard County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calico Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72519 | 0.18% | 0.46% | 0.84% | 1.00% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Calico Rock, Arkansas
In Calico Rock, 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 Izard 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 Calico Rock, 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 Calico Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $63,825, with tax bills ranging from $185 at the 25th percentile to $1,593 at the 90th percentile. The highest and lowest median tax bill is $456 in the 72519 zip code.
Average Calico Rock Assessed Value
$63,825
Average Izard County Assessed Value
$60,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Calico Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72519 | $16,000 | $36,600 | $63,825 | $115,312 | $171,900 |
Source: Ownwell
Property Tax Bills Across Calico Rock, Arkansas
In Calico Rock, Izard County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Calico Rock typically see a median property tax bill of $456, which is significantly lower than the national median property tax rate of 0.99%. Factors influencing the tax bill include the home's location, market value, and any applicable exemptions or deductions. For instance, the tax bill for the 25th percentile is around $185, while those in the 75th percentile pay approximately $891. At the 90th percentile, homeowners may see tax bills as high as $1,593. These variations highlight how property taxes can impact homeowners differently based on their property's assessed value. Lower property taxes can be a financial relief for homeowners, making Calico Rock an attractive place for those looking to manage their living expenses effectively.
Average Calico Rock Tax Bill
$456
Average Izard County Tax Bill
$375
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Calico Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72519 | $69 | $185 | $456 | $891 | $1,593 |
Source: Ownwell