Gould, Arkansas Property Taxes
The median property tax rate in Gould, Arkansas is 1.02%, slightly above the national median of 0.99% and significantly higher than the Arkansas state median of 0.84%. With a median home value of $26,675 in Gould, the typical annual property tax bill is $204, which is considerably lower than the national median of $2,690. Property taxes in Gould are calculated based on the tax assessed value, generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Gould'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 Gould or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gould, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Gould Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gould with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gould 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 Gould, Arkansas
Property taxes in Gould, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gould is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Gould set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gould 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 Gould's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71643 has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Gould 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 Gould Tax Rate
1.02%
Average Lincoln County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gould, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71643 | 0.16% | 0.54% | 1.02% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Gould, Arkansas
In Gould, 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 Lincoln 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 Gould, 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. The median home price in Gould is $26,675, with tax bills ranging significantly— from the 25th percentile at $103 to the 90th percentile at $1,201. The zip code 71643 has both the highest and lowest median tax bill of $204. Being aware of these valuation processes in Gould helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gould Assessed Value
$26,675
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 Gould, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71643 | $7,545 | $14,538 | $26,675 | $49,875 | $110,325 |
Source: Ownwell
Property Tax Bills Across Gould, Arkansas
In Gould, a small city in Lincoln County, AR, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. Homeowners in Gould experience property tax rates that reflect both the local government's budget needs and the property's assessed value. The median home price in Gould is $26,675, and the property tax bill for the 25th percentile is $103, while the 75th percentile reaches $437. For those in the 90th percentile, the tax bill can go up to $1,201. These figures indicate that while some homeowners face relatively low property taxes, others might see a more significant impact on their finances. The highest and lowest median tax bills in the region are both $204, showing a consistent range for most properties. Compared to the national median property tax rate of 0.99%, Gould's property tax rates can vary significantly, affecting how much homeowners need to budget annually for their tax obligations.
Average Gould Tax Bill
$204
Average Lincoln County Tax Bill
$302
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Gould, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71643 | $34 | $103 | $204 | $437 | $1,201 |
Source: Ownwell