Amagon, Arkansas Property Taxes
The median property tax rate in Amagon, AR is 0.92%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Amagon at $31,575, the typical annual property tax bill is $352, which is significantly less than the national median of $2,690. Property taxes in Amagon are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Amagon'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 Amagon or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amagon, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$290
Ownwell’s Amagon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amagon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amagon 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 Amagon, Arkansas
Property taxes in Amagon, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amagon is 0.92%, which is lower than the U.S. national median of 0.99%. Local government entities within Amagon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amagon 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 Amagon's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72005 zip code has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Amagon provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amagon Tax Rate
0.92%
Average Jackson County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amagon, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72005 | 0.25% | 0.56% | 0.92% | 0.92% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Amagon, Arkansas
In Amagon, 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 Jackson 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 Amagon, 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. For instance, the median home price in Amagon is $31,575, with tax bills ranging from $116 at the 25th percentile to $1,071 at the 90th percentile. The zip code 72005 has the highest median tax bill of $352. 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 Amagon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amagon Assessed Value
$31,575
Average Jackson County Assessed Value
$45,225
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amagon, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72005 | $5,360 | $11,638 | $31,575 | $67,238 | $132,140 |
Source: Ownwell
Property Tax Bills Across Amagon, Arkansas
In Amagon, located in Jackson County, AR, property tax bills are calculated based on the assessed value of the property, which is typically a fraction of its market value. The median home price in Amagon stands at $31,575. Homeowners in this region can expect their property tax bills to vary significantly depending on the specifics of their property and its assessed value. For instance, the tax bill at the 25th percentile is around $116, while at the 75th percentile, it rises to $694. At the 90th percentile, homeowners might pay as much as $1,071. Compared to the national median property tax rate of 0.99%, Amagon's property tax rates tend to be relatively moderate, reflecting the lower property values in the area. This calculation method ensures that property taxes are proportionate to the value of the property, impacting homeowners by influencing their overall housing costs and potentially affecting their long-term financial planning. The highest and lowest median tax bills in the region both stand at $352, indicating some consistency in tax assessments within the zip code 72005.
Average Amagon Tax Bill
$352
Average Jackson County Tax Bill
$308
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Amagon, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72005 | $43 | $116 | $352 | $694 | $1,071 |
Source: Ownwell