Mount Pleasant, Arkansas Property Taxes
The median property tax rate in Mount Pleasant, AR is 0.63%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $55,975 in Mount Pleasant, the typical annual property tax bill amounts to $288, well below the national median of $2,690. Property taxes in Mount Pleasant are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mount Pleasant'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 Mount Pleasant 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
Mount Pleasant, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$353
Ownwell’s Mount Pleasant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Pleasant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Pleasant 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 Mount Pleasant, Arkansas
Property taxes in Mount Pleasant, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Pleasant is 0.63%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Mount Pleasant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Pleasant 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 Mount Pleasant's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72561 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Mount Pleasant 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 Mount Pleasant Tax Rate
0.63%
Average Izard County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Pleasant, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72561 | 0.12% | 0.32% | 0.63% | 0.92% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Mount Pleasant, Arkansas
In Mount Pleasant, 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 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. In Mount Pleasant, 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 Mount Pleasant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mount Pleasant is $55,975, with tax bills ranging from $106 at the 25th percentile to $1,102 at the 90th percentile. The highest and lowest median tax bill is $288 in the 72561 zip code.
Average Mount Pleasant Assessed Value
$55,975
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 Mount Pleasant, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72561 | $12,165 | $28,650 | $55,975 | $102,512 | $153,440 |
Source: Ownwell
Property Tax Bills Across Mount Pleasant, Arkansas
In Mount Pleasant, AR, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local government determines the tax rate, which is then applied to the assessed value to calculate the annual tax bill. Various factors influence this calculation, including the property's location, size, and any applicable exemptions. Homeowners in Mount Pleasant typically see a range of property tax bills. For example, the 25th percentile tax bill is around $106, while the 75th percentile reaches $648. At the 90th percentile, homeowners might pay up to $1,102. These figures indicate significant variability in tax burdens across different properties. Comparatively, the median tax bill in Izard County, where Mount Pleasant is located, stands at $288. This is substantially lower than the national median property tax rate of 0.99%, making Mount Pleasant an attractive option for homeowners seeking lower property tax obligations. Lower property taxes can ease the financial burden on homeowners, making it more affordable to own and maintain property in this region.
Average Mount Pleasant Tax Bill
$288
Average Izard County Tax Bill
$375
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Pleasant, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72561 | $47 | $106 | $288 | $648 | $1,102 |
Source: Ownwell