Southside, Arkansas Property Taxes
The median property tax rate in Southside, AR is 0.92%, 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 $9,400 in Southside, the typical annual property tax bill amounts to $86, which is significantly below the national median of $2,690. Property taxes in Southside are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Southside'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 Southside or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Southside, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$86
$80
Ownwell’s SOUTHSIDE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SOUTHSIDE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SOUTHSIDE 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 Southside, Arkansas
Property taxes in Southside, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Southside is 0.92%, which is lower than the U.S. national median of 0.99%. Local government entities within Southside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southside 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 Southside's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72501 has a median property tax rate of 0.92%, which is consistent with Southside's rate. Understanding how these areas compare with Southside 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 Southside 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 Southside, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72501 | 0.92% | 0.92% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Southside, Arkansas
In Southside, 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 Southside, 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 Southside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price here is $9,400, with tax bills at the 25th, 75th, and 90th percentiles all being $86.
Average Southside Assessed Value
$9,400
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 Southside, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72501 | $9,400 | $9,400 | $9,400 | $9,400 | $9,400 |
Source: Ownwell
Property Tax Bills Across Southside, Arkansas
In Southside, located in Izard County, AR, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied. In Izard County, the median home price is $9,400, and property tax bills are notably low compared to the national median property tax rate of 0.99%. For instance, the tax bill at the 25th, 75th, and 90th percentiles is consistently $86, highlighting a relatively uniform tax burden across different property values. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. These low property taxes can significantly benefit homeowners by reducing their annual expenses, making homeownership more affordable. However, it also means that local governments may have limited revenue for public services, which can impact community resources and infrastructure. Overall, the property tax system in Southside provides a unique financial landscape for its residents.
Average Southside Tax Bill
$86
Average Izard County Tax Bill
$375
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Southside, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72501 | $86 | $86 | $86 | $86 | $86 |
Source: Ownwell