Tuckerman, Arkansas Property Taxes
The median property tax rate in Tuckerman, AR is 0.73%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Tuckerman at $54,250, the typical annual property tax bill is around $333, significantly below the national median of $2,690. Property taxes in Tuckerman are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Tuckerman'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 Tuckerman 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
Tuckerman, 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 Tuckerman Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tuckerman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tuckerman 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 Tuckerman, Arkansas
Property taxes in Tuckerman, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tuckerman is 0.73%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Tuckerman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tuckerman 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 Tuckerman's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72473 zip code has the highest median property tax rate of 0.73%, while the 72473 zip code has the lowest median tax rate of 0.73%. Understanding how these cities compare with Tuckerman 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 Tuckerman Tax Rate
0.73%
Average Jackson County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tuckerman, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72473 | 0.13% | 0.30% | 0.73% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Tuckerman, Arkansas
In Tuckerman, 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 Assessor 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 Tuckerman, 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 example, the median home price here is $54,250, with tax bills varying widely. The 25th percentile tax bill is $141, while the 75th percentile reaches $545, and the 90th percentile can go up to $813. 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 Tuckerman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tuckerman Assessed Value
$54,250
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 Tuckerman, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72473 | $21,750 | $38,125 | $54,250 | $72,625 | $106,100 |
Source: Ownwell
Property Tax Bills Across Tuckerman, Arkansas
Property tax bills in Tuckerman, Jackson County, AR, are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in Tuckerman see their properties assessed at a fraction of their market price, and the resulting value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence this calculation, including property location, size, and improvements made. For example, in Tuckerman, the tax bills can vary significantly. At the 25th percentile, homeowners might pay around $141, while those in the 75th percentile could see bills of up to $545. The highest median tax bill in the area is about $333, which is considerably lower than the national median property tax rate of 0.99%. This relatively low tax burden can be beneficial for homeowners, making it more affordable to own property in Tuckerman compared to other regions with higher property taxes.
Average Tuckerman Tax Bill
$333
Average Jackson County Tax Bill
$308
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Tuckerman, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72473 | $53 | $141 | $333 | $545 | $813 |
Source: Ownwell