Aubrey, Arkansas Property Taxes
The median property tax rate in Aubrey, Arkansas is 0.77%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Aubrey, the typical annual property tax bill amounts to $171, significantly below the national median of $2,690. Property taxes in Aubrey are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Aubrey's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Aubrey or another part of the city, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aubrey, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$164
Ownwell’s Aubrey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aubrey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aubrey 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 Aubrey, Arkansas
Property taxes in Aubrey, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aubrey is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Aubrey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aubrey 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 Aubrey's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72311 has both the highest and lowest median property tax rate of 0.77%. Understanding how these cities compare with Aubrey provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aubrey Tax Rate
0.77%
Average Lee County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aubrey, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72311 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Aubrey, Arkansas
In Aubrey, 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 Lee 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 Aubrey, 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 Aubrey 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 $171.00 in the 72311 zip code, while the lowest is also $171.00 in the same zip code.
Average Aubrey Assessed Value
$21,320
Average Lee County Assessed Value
$41,075
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aubrey, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72311 | $3,620 | $9,450 | $21,320 | $41,150 | $59,960 |
Source: Ownwell
Property Tax Bills Across Aubrey, Arkansas
In Aubrey, located in Lee County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by multiplying the market value by the assessment ratio set by the state. The resulting assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including the home's market value, the local assessment ratio, and the tax rate. For instance, the median home price in Aubrey is $21,320. Property tax bills in the city range significantly, with the 25th percentile at $74 and the 75th percentile at $323, highlighting the variability based on property values and tax rates. The 90th percentile tax bill reaches $465, indicating higher taxes for more valuable properties. Compared to the national median property tax rate of 0.99%, the rates in Aubrey can be considered relatively low, which can be beneficial for homeowners. Lower property taxes can make homeownership more affordable, potentially increasing the attractiveness of the area for current and prospective residents.
Average Aubrey Tax Bill
$171
Average Lee County Tax Bill
$285
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Aubrey, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72311 | $33 | $74 | $171 | $323 | $465 |
Source: Ownwell