Jefferson, Jefferson County, Arkansas Property Taxes
The median property tax rate in Jefferson, AR is 0.61%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Jefferson at $67,350, the typical annual property tax bill amounts to $362, far below the national median of $2,690. Property taxes in Jefferson are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Jefferson'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 Jefferson 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
Jefferson, Jefferson County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$411
$381
Ownwell’s Jefferson Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Jefferson. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Jefferson to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making it easier to plan financially. For those interested in more detailed information, trends at the neighborhood level are also available. Your property's assessed value is the value assigned by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Jefferson, Jefferson County, Arkansas
Property taxes in Jefferson, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72079 zip code has both the highest and the lowest median property tax rate of 0.61%. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
0.61%
Average Jefferson County Tax Rate
0.73%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, Jefferson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72079 | 0.14% | 0.35% | 0.61% | 0.77% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, Jefferson County, Arkansas
In Jefferson, 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 Jefferson 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 Jefferson, 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Jefferson, the median home price is $67,350, and the median tax bill varies significantly, with the 25th percentile at $165 and the 90th percentile at $1,588. The highest and lowest median tax bills are both $362 in the 72079 zip code.
Property Tax Assessment Values Across Jefferson, Jefferson County, Arkansas
Source: Ownwell
$32,800
$103,525
$174,250
Average Jefferson Assessed Value
$67,350
Average Jefferson County Assessed Value
$69,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, Jefferson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72079 | $22,930 | $39,100 | $67,350 | $121,300 | $205,560 |
Source: Ownwell
Property Tax Bills Across Jefferson, Jefferson County, Arkansas
In Jefferson, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. For instance, a home with a median market price of $67,350 would have its assessed value calculated accordingly. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location within Jefferson, specific exemptions or deductions available to the homeowner, and the local tax rate set by the county. In Jefferson, the tax bill can vary significantly; the 25th percentile of tax bills is around $165, while the 75th percentile reaches $850, and the 90th percentile can be as high as $1,588. Homeowners in Jefferson should be aware that property taxes directly impact their annual financial obligations, and staying informed about how these taxes are calculated can help in budgeting and financial planning.
Average Jefferson Tax Bill
$362
Average Jefferson County Tax Bill
$457
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, Jefferson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72079 | $71 | $165 | $362 | $850 | $1,588 |
Source: Ownwell