Williford, Arkansas Property Taxes
The median property tax rate in Williford, AR is 0.65%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Williford at $91,595, the typical annual property tax bill reaches $594, well below the national median of $2,690. Property taxes in Williford are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Williford'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 Williford 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
Williford, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$595
$552
Ownwell’s Williford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williford 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 Williford, Arkansas
Property taxes in Williford, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williford is 0.65%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Williford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williford 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 Williford's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72482 has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Williford 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 Williford Tax Rate
0.65%
Average Lawrence County Tax Rate
0.63%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williford, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72482 | 0.64% | 0.64% | 0.65% | 0.71% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Williford, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Williford, Arkansas. 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 Lawrence 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 Williford, 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. The median home price in Williford is $91,595, with tax bills ranging from $350 at the 25th percentile to $785 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Williford Assessed Value
$91,595
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 Williford, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72482 | $29,275 | $52,645 | $91,595 | $110,710 | $122,179 |
Source: Ownwell
Property Tax Bills Across Williford, Arkansas
In Williford, Lawrence County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Williford is $91,595. Homeowners can expect their tax bills to vary widely, with the 25th percentile at $350 and the 75th percentile reaching $713. The tax bill at the 90th percentile is $785, reflecting the upper end of the spectrum. Several factors influence the final tax bill, including property characteristics, local tax rates, and any applicable exemptions. These elements collectively determine the assessed value, which is then multiplied by the local tax rate to calculate the annual property tax. For homeowners, understanding these factors is crucial as they directly impact their financial planning. Compared to the national median property tax rate of 0.99%, Williford's property tax rates can be considered relatively moderate, offering a more affordable living option in terms of property taxes.
Average Williford Tax Bill
$594
Average Lawrence County Tax Bill
$469
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Williford, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72482 | $204 | $350 | $594 | $713 | $785 |
Source: Ownwell