Dumas, Lincoln County, Arkansas Property Taxes
The median property tax rate in Dumas, Arkansas is 0.81%, slightly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Dumas at $63,000, the typical annual property tax bill reaches $425, which is significantly below the national median of $2,690. Property taxes in Dumas 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 Dumas'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 Dumas 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
Dumas, Lincoln County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$510
$474
Ownwell’s Dumas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dumas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dumas 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 Dumas, Lincoln County, Arkansas
Property taxes in Dumas, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dumas is 0.81%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Dumas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dumas 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 Dumas's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71639 has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Dumas provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dumas Tax Rate
0.81%
Average Lincoln County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dumas, Lincoln County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71639 | 0.24% | 0.48% | 0.81% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Dumas, Lincoln County, Arkansas
In Dumas, 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 Dumas, 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 Dumas 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 $425 in the 71639 zip code, while the lowest is also $425 in the same zip code.
Property Tax Assessment Values Across Dumas, Lincoln County, Arkansas
Source: Ownwell
$26,675
$44,838
$63,000
Average Dumas Assessed Value
$63,000
Average Lincoln County Assessed Value
$43,150
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dumas, Lincoln County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71639 | $12,740 | $29,400 | $63,000 | $139,200 | $206,130 |
Source: Ownwell
Property Tax Bills Across Dumas, Lincoln County, Arkansas
In Dumas, located in Lincoln County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The median home price in Dumas is $63,000. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, homeowners in the 25th percentile can expect to pay around $183, while those in the 75th percentile might see bills closer to $1,049. At the higher end, the 90th percentile tax bill reaches approximately $1,932. This system ensures that property taxes are proportional to home values, meaning higher-value properties incur higher taxes. The highest and lowest median tax bills in Dumas are both $425, reflecting a level of consistency in tax assessments within the area. Compared to the national median property tax rate of 0.99%, Dumas residents experience relatively moderate property tax rates, which can significantly impact homeowners' annual financial planning.
Average Dumas Tax Bill
$425
Average Lincoln County Tax Bill
$302
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Dumas, Lincoln County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71639 | $68 | $183 | $425 | $1,049 | $1,932 |
Source: Ownwell