Grubbs, Arkansas Property Taxes
The median property tax rate in Grubbs, AR is 1.00%, slightly higher than the national median of 0.99% and significantly above the Arkansas state median of 0.84%. With a median home value of $19,750 in Grubbs, the typical annual property tax bill is $148, well below the national median of $2,690. Property taxes in Grubbs are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grubbs'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 Grubbs or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grubbs, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$198
$183
Ownwell’s Grubbs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grubbs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grubbs 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 Grubbs, Arkansas
Property taxes in Grubbs, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grubbs is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Grubbs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grubbs 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 Grubbs' effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72431 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Grubbs 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 Grubbs Tax Rate
1.00%
Average Jackson County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grubbs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72431 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Grubbs, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Grubbs, Arkansas. 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 Grubbs, 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. The median home price in Grubbs is $19,750, with tax bills ranging from $99 at the 25th percentile to $329 at the 90th percentile. The zip code with the highest and lowest median tax bill is 72431, both at $148. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grubbs Assessed Value
$19,750
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 Grubbs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72431 | $6,550 | $10,600 | $19,750 | $30,475 | $36,940 |
Source: Ownwell
Property Tax Bills Across Grubbs, Arkansas
In Grubbs, located in Jackson County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price here is $19,750. To determine the tax bill, local tax rates are applied to the assessed value, resulting in the final amount homeowners owe. Factors such as property location, home improvements, and exemptions can influence the assessed value and, consequently, the tax bill. For example, the tax bill at the 25th percentile is $99, while at the 75th percentile, it rises to $226. At the 90th percentile, homeowners may see a tax bill of $329. The highest and lowest median tax bills in the region are both $148, found in the 72431 zip code. Compared to the national median property tax rate of 0.99%, Grubbs' tax rates can significantly impact homeowners, making it essential for them to understand how their tax bills are calculated and what factors might affect their annual obligations.
Average Grubbs Tax Bill
$148
Average Jackson County Tax Bill
$308
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Grubbs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72431 | $55 | $99 | $148 | $226 | $329 |
Source: Ownwell