La Grange, Arkansas Property Taxes
The median property tax rate in LA GRANGE, AR 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 LA GRANGE, the typical annual property tax bill reaches $168, significantly below the national median of $2,690. Property taxes in LA GRANGE are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding LA GRANGE'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 LA GRANGE or another part of Lee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
La Grange, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$177
$165
Ownwell’s LA GRANGE Property Tax Bill Calculator offers a straightforward way for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in LA GRANGE with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in LA GRANGE to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities, assisting in better financial planning. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across La Grange, Arkansas
Property taxes in LA GRANGE, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA GRANGE is 0.77%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within LA GRANGE set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA GRANGE 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 LA GRANGE's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72352 ZIP code has both the highest and lowest median property tax rate of 0.77%. Understanding how these cities compare with LA GRANGE 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 La Grange 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 La Grange, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72352 | 0.72% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across La Grange, Arkansas
In LA GRANGE, 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 LA GRANGE, 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 LA GRANGE 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 $168.00 in the 72352 zip code, while the lowest median tax bill is also $168.00 in the same zip code.
Average La Grange Assessed Value
$23,050
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 La Grange, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72352 | $5,150 | $9,562 | $23,050 | $44,812 | $53,325 |
Source: Ownwell
Property Tax Bills Across La Grange, Arkansas
In La Grange, Lee County, AR, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the market value of the home. For example, if a home has a median market price of $23,050, the assessed value will be a fraction of this amount, as determined by local tax assessment rules. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors contribute to the final tax bill, including the property's location, its assessed value, and the local tax rate. Homeowners in La Grange can expect property tax bills to vary widely. For instance, tax bills range from $74 at the 25th percentile to $397 at the 90th percentile, with the median tax bill being $168. This variability means that while some homeowners may find their tax bills relatively manageable, others could face higher costs. Compared to the national median property tax rate of 0.99%, La Grange’s property taxes are relatively low, providing some financial relief to homeowners in the area.
Average La Grange Tax Bill
$168
Average Lee County Tax Bill
$285
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across La Grange, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72352 | $29 | $74 | $168 | $336 | $397 |
Source: Ownwell