Charleston, Arkansas Property Taxes
The median property tax rate in Charleston, Arkansas is 0.91%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $57,200 in Charleston, the typical annual property tax bill amounts to $519, which is significantly below the national median of $2,690. Property taxes in Charleston are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Charleston'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 Charleston or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Charleston, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$521
$483
Ownwell’s Charleston Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Charleston with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Charleston to estimate your property tax bill. This valuable tool provides insight into potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Charleston, Arkansas
Property taxes in Charleston, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charleston is 0.91%, slightly below the U.S. national median of 0.99%. Local government entities within Charleston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charleston 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 Charleston's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72933 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these areas compare with Charleston 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 Charleston Tax Rate
0.91%
Average Logan County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charleston, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72933 | 0.59% | 0.77% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Charleston, Arkansas
In Charleston, 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 Charleston, 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 Charleston is $57,200, with tax bills ranging from $275 at the 25th percentile to $1,557 at the 90th percentile. The highest and lowest median tax bills are both $519 in the 72933 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Charleston Assessed Value
$57,200
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 Charleston, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72933 | $27,260 | $32,625 | $57,200 | $143,025 | $207,770 |
Source: Ownwell
Property Tax Bills Across Charleston, Arkansas
In Charleston, Logan County, AR, property tax bills are calculated based on the assessed value of the home, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $57,200, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $275, while at the 75th percentile, it rises to $1,232, and at the 90th percentile, it can reach up to $1,557. Several factors influence these tax calculations, including property size, location, and any applicable exemptions. For example, Charleston's highest median tax bill is noted at $519 in the 72933 zip code. These property taxes significantly impact homeowners, affecting their annual budget and long-term financial planning. Compared to the national median property tax rate of 0.99%, Charleston's rates provide a unique perspective on the local property tax landscape.
Average Charleston Tax Bill
$519
Average Logan County Tax Bill
$602
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Charleston, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72933 | $196 | $275 | $519 | $1,232 | $1,557 |
Source: Ownwell