Alicia, Arkansas Property Taxes
The median property tax rate in Alicia, Arkansas is 0.69%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $59,200 in Alicia, the typical annual property tax bill amounts to $380, significantly below the national median of $2,690. Property taxes in Alicia 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 Alicia'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 Alicia or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alicia, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$408
$379
Ownwell’s Alicia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alicia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alicia 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 Alicia, Arkansas
Property taxes in Alicia, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alicia is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Alicia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alicia 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 Alicia's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72410 has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Alicia provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alicia Tax Rate
0.69%
Average Lawrence County Tax Rate
0.63%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alicia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72410 | 0.48% | 0.59% | 0.69% | 0.76% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Alicia, Arkansas
In Alicia, 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 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 Alicia, 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 Alicia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72410, with a median bill of $380, which is below the national median property tax rate of 0.99%.
Average Alicia Assessed Value
$59,200
Average Lawrence County Assessed Value
$77,245
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alicia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72410 | $17,742 | $32,960 | $59,200 | $93,764 | $136,467 |
Source: Ownwell
Property Tax Bills Across Alicia, Arkansas
In Alicia, Arkansas, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Alicia is $59,200. This assessed value is then multiplied by the local tax rate set by Lawrence County. Factors influencing your tax bill include property characteristics, market conditions, and any applicable exemptions or deductions. For example, property tax bills in Alicia can vary significantly. The 25th percentile tax bill is around $209, while the 75th percentile tax bill reaches $594. For those at the higher end, the 90th percentile tax bill can be as much as $1,011. Despite these variations, the median tax bill in Alicia is $380, which is considerably lower than the national median property tax rate of 0.99%. Homeowners in Alicia benefit from relatively low property tax bills, making it an attractive location for those looking to manage their housing costs effectively. Understanding how these factors impact your tax bill can help you plan better for annual expenses.
Average Alicia Tax Bill
$380
Average Lawrence County Tax Bill
$469
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Alicia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72410 | $129 | $209 | $380 | $594 | $1,011 |
Source: Ownwell