Guion, Arkansas Property Taxes
The median property tax rate in Guion, AR is 0.92%, which is slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $35,000 in Guion, the typical annual property tax bill is around $328, significantly less than the national median of $2,690. Property taxes in Guion 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 Guion'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 Guion or another part of Izard County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Guion, 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 Guion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guion 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 Guion, Arkansas
Property taxes in Guion, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guion is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Guion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guion 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 Guion's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72540 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these areas compare with Guion 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 Guion Tax Rate
0.92%
Average Izard County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guion, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72540 | 0.38% | 0.65% | 0.92% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Guion, Arkansas
In Guion, 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 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 Guion, 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 Guion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Guion is $35,000, with the highest and lowest median tax bills both being $328 in the 72540 zip code.
Average Guion Assessed Value
$35,000
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 Guion, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72540 | $10,490 | $20,800 | $35,000 | $83,700 | $163,530 |
Source: Ownwell
Property Tax Bills Across Guion, Arkansas
In Guion, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, if a home in Guion has a median market price of $35,000, the assessed value is determined by local assessment practices. The median property tax rate in Izard County is applied to this assessed value to determine the tax bill. Homeowners in Guion can expect a wide range of tax bills depending on their property's value and the specific assessment. For instance, the 25th percentile of tax bills is around $156, while the 75th percentile is approximately $697, and the 90th percentile reaches up to $1,250. These figures illustrate the variation in tax burdens across different properties. Compared to the national median property tax rate of 0.99%, Guion's property tax rates can be relatively lower, offering some financial relief to homeowners. However, the exact impact on each homeowner depends on their property's assessed value and the specific tax rate applied.
Average Guion Tax Bill
$328
Average Izard County Tax Bill
$375
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Guion, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72540 | $66 | $156 | $328 | $697 | $1,250 |
Source: Ownwell