Tupelo, Jackson County, Arkansas Property Taxes
The median property tax rate in Tupelo, Arkansas is 0.97%, 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 Tupelo at $23,775, the typical annual property tax bill is $177, which is significantly below the national median of $2,690. Property taxes in Tupelo are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Tupelo'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 Tupelo 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
Tupelo, Jackson County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$231
$214
Ownwell’s Tupelo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tupelo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tupelo 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 Tupelo, Jackson County, Arkansas
Property taxes in Tupelo, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tupelo is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within Tupelo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tupelo 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 Tupelo's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72169 has both the highest and lowest median property tax rate of 0.97%. Understanding how these cities compare with Tupelo 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 Tupelo Tax Rate
0.97%
Average Jackson County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tupelo, Jackson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72169 | 0.21% | 0.97% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Tupelo, Jackson County, Arkansas
In Tupelo, 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 Tupelo, 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 Tupelo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $177.00, found in zip code 72169, which also has the lowest median tax bill.
Property Tax Assessment Values Across Tupelo, Jackson County, Arkansas
Source: Ownwell
$18,000
$36,925
$55,850
Average Tupelo Assessed Value
$23,775
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 Tupelo, Jackson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72169 | $5,125 | $14,900 | $23,775 | $35,438 | $55,800 |
Source: Ownwell
Property Tax Bills Across Tupelo, Jackson County, Arkansas
In Tupelo, located in Jackson County, AR, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Tupelo can expect a variety of tax bills, with the 25th percentile at $80 and the 75th percentile reaching $247. For those in the 90th percentile, tax bills can go up to $456. The median home price in Tupelo is $23,775, which influences the assessed value and, consequently, the tax bill. Factors such as property size, location, and market conditions are considered when determining the assessed value. Compared to the national median property tax rate of 0.99%, the tax rate in Tupelo may seem more manageable, but it still significantly impacts homeowners. Understanding these factors can help residents anticipate their financial obligations and better manage their property investments.
Average Tupelo Tax Bill
$177
Average Jackson County Tax Bill
$308
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Tupelo, Jackson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72169 | $29 | $80 | $177 | $247 | $456 |
Source: Ownwell