Branch, Arkansas Property Taxes
The median property tax rate in Branch, Arkansas is 0.88%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Branch at $83,275, the typical annual property tax bill amounts to $693, which is significantly below the national median of $2,690. Property taxes in Branch are calculated based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Branch'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 Branch or another part of Logan County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Branch, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$733
$680
Ownwell’s BRANCH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BRANCH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BRANCH 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 Branch, Arkansas
Property taxes in Branch, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Branch is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Branch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Branch 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 Branch's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72928 zip code has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Branch provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Branch Tax Rate
0.88%
Average Logan County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Branch, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72928 | 0.80% | 0.86% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Branch, Arkansas
In Branch, 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 Logan 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 Branch, 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 Branch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $693, found in zip code 72928.
Average Branch Assessed Value
$83,275
Average Logan County Assessed Value
$67,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Branch, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72928 | $30,280 | $37,562 | $83,275 | $97,825 | $137,770 |
Source: Ownwell
Property Tax Bills Across Branch, Arkansas
In BRANCH, located in Logan County, AR, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The county assessor evaluates properties to determine their market value, and then a percentage of that value is used to establish the assessed value. This assessed value is multiplied by the local tax rate to calculate the annual property tax bill. Homeowners in BRANCH experience a range of tax bills, with the 25th percentile at $331 and the 75th percentile reaching $803. The 90th percentile sees tax bills as high as $1212. These figures are relatively modest compared to the national median property tax rate of 0.99%. The highest median tax bill in Logan County is $693, found in the 72928 zip code. Understanding these factors can help homeowners anticipate their annual expenses and plan their finances accordingly. Property taxes in BRANCH contribute to local services, impacting the quality of life and property values in the area.
Average Branch Tax Bill
$693
Average Logan County Tax Bill
$602
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Branch, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72928 | $266 | $331 | $693 | $803 | $1,212 |
Source: Ownwell