Pettigrew, Johnson County, Arkansas Property Taxes
The median property tax rate in Pettigrew, AR is 0.94%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Pettigrew at $61,300, the typical annual property tax bill amounts to $465, which is significantly lower than the national median of $2,690. Property taxes in Pettigrew are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pettigrew'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 Pettigrew or another part of Johnson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pettigrew, Johnson County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$576
$535
Ownwell’s Pettigrew Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pettigrew with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pettigrew 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 Pettigrew, Johnson County, Arkansas
Property taxes in Pettigrew, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pettigrew is 0.62%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Pettigrew set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pettigrew 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. For comparison, the 72752 zip code has the median property tax rate of 0.62%. Understanding how these areas compare with Pettigrew provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pettigrew Tax Rate
0.94%
Average Johnson County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pettigrew, Johnson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72752 | 0.41% | 0.70% | 0.94% | 0.94% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Pettigrew, Johnson County, Arkansas
In Pettigrew, 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 local 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 Pettigrew, 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. The median home price in Pettigrew is $61,300, with tax bills ranging from $233 at the 25th percentile to $956 at the 90th percentile. The highest and lowest median tax bills, both at $465, are found in the 72752 zip code. Being aware of these valuation processes in Pettigrew helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pettigrew, Johnson County, Arkansas
Source: Ownwell
$45,700
$67,875
$90,050
Average Pettigrew Assessed Value
$61,300
Average Johnson County Assessed Value
$80,100
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pettigrew, Johnson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72752 | $7,910 | $24,200 | $61,300 | $90,800 | $124,600 |
Source: Ownwell
Property Tax Bills Across Pettigrew, Johnson County, Arkansas
In Pettigrew, Johnson County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Pettigrew is $61,300. Property taxes in this region are determined by multiplying the assessed value by the local tax rate, which is then used to calculate the annual tax bill. For example, homeowners in the 25th percentile can expect an annual tax bill of around $233, while those in the 75th percentile may see bills closer to $701. At the 90th percentile, tax bills can reach up to $956. These tax bills directly impact homeowners by contributing to local services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Pettigrew's property tax rates may appear more favorable, making it an attractive location for potential homeowners looking for lower property tax burdens.
Average Pettigrew Tax Bill
$465
Average Johnson County Tax Bill
$542
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Pettigrew, Johnson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72752 | $103 | $233 | $465 | $701 | $956 |
Source: Ownwell