Diaz, Arkansas Property Taxes
The median property tax rate in Diaz, AR is 0.76%, which is lower than both the national median of 0.99% and Arkansas's state median of 0.84%. With a median home value of $38,475 in Diaz, the typical annual property tax bill is $341, significantly below the national median of $2,690. Property taxes in Diaz 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 Diaz'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 Diaz 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
Diaz, 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 Diaz Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Diaz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Diaz 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 Diaz, Arkansas
Property taxes in Diaz, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Diaz is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Diaz set these rates annually, and they can vary significantly across different neighborhoods. Each year, Diaz 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 Diaz's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72043 zip code has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Diaz 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 Diaz Tax Rate
0.76%
Average Jackson County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Diaz, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72043 | 0.57% | 0.63% | 0.76% | 0.94% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Diaz, Arkansas
In Diaz, 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 Diaz, 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 Diaz helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both in the 72043 zip code at $341.
Average Diaz Assessed Value
$38,475
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 Diaz, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72043 | $22,610 | $30,012 | $38,475 | $97,175 | $185,255 |
Source: Ownwell
Property Tax Bills Across Diaz, Arkansas
In Diaz, located in Jackson County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. Homeowners in Diaz can expect their property tax bill to be influenced by several factors, including the assessed value of their property and the local tax rate. For instance, with a median home price of $38,475, the tax bills can range significantly. At the 25th percentile, homeowners might pay around $236, while those at the 75th percentile could see bills closer to $903. The tax bill at the 90th percentile can reach up to $1,488. Compared to the national median property tax rate of 0.99%, Diaz offers relatively lower tax bills. This can be particularly beneficial for homeowners seeking affordable living costs. The highest and lowest median tax bills in Diaz are both $341, indicating a consistent tax rate across the area, specifically in the 72043 zip code. This consistency helps homeowners predict their annual expenses more accurately.
Average Diaz Tax Bill
$341
Average Jackson County Tax Bill
$308
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Diaz, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72043 | $171 | $236 | $341 | $903 | $1,488 |
Source: Ownwell