Poplar Grove, Arkansas Property Taxes
The median property tax rate in Poplar Grove, AR is 0.67%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Poplar Grove at $92,150, the typical annual property tax bill reaches $540, significantly below the national median of $2,690. Property taxes in Poplar Grove 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 Poplar Grove'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 Poplar Grove 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
Poplar Grove, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$617
$573
Ownwell’s Poplar Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Poplar Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Poplar Grove 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 Poplar Grove, Arkansas
Property taxes in Poplar Grove, Arkansas, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Poplar Grove is 0.67%, lower than the U.S. national median of 0.99%. Local government entities within Poplar Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Poplar Grove 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 Poplar Grove's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72374 has the same median property tax rate of 0.67%. Understanding how these cities compare with Poplar Grove 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 Poplar Grove Tax Rate
0.67%
Average Lee County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Poplar Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72374 | 0.49% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Poplar Grove, Arkansas
In Poplar Grove, 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. 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 Poplar Grove is $92,150, with tax bills ranging from $393 at the 25th percentile to $631 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 in Poplar Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Poplar Grove Assessed Value
$92,150
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 Poplar Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72374 | $39,200 | $80,150 | $92,150 | $94,500 | $101,910 |
Source: Ownwell
Property Tax Bills Across Poplar Grove, Arkansas
In Poplar Grove, Lee County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is a percentage of the property's market value, typically lower, to ease the tax burden on homeowners. The property tax rate is then applied to the assessed value to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and condition. For instance, the median home price in Poplar Grove is $92,150. Homeowners in the 25th percentile pay around $393 annually, while those in the 75th percentile see bills closer to $621. The tax bill can significantly impact homeowners' finances, making it essential to understand these factors and seek potential exemptions or appeals if the assessed value seems inaccurate. Comparatively, the national median property tax rate is 0.99%, making Poplar Grove's rates relatively moderate. This balance helps ensure that property taxes support essential community services without placing an undue burden on residents.
Average Poplar Grove Tax Bill
$540
Average Lee County Tax Bill
$285
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Poplar Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72374 | $205 | $393 | $540 | $621 | $631 |
Source: Ownwell