Paris, Arkansas Property Taxes
The median property tax rate in Paris, AR is 0.92%, 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 Paris at $68,400, the typical annual property tax bill is $602, which is significantly below the national median of $2,690. Property taxes in Paris are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Paris'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 Paris or another part of Logan County, being informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paris, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$629
Ownwell’s Paris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paris 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 Paris, Arkansas
Property taxes in Paris, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paris is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Paris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paris 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 Paris's effective property tax rate to other regions and the national median. For comparison, the highest and lowest median property tax rates in Logan County are both 0.92% in the zip code 72855. Understanding how these areas compare with Paris 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 Paris Tax Rate
0.92%
Average Logan County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paris, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72855 | 0.68% | 0.88% | 0.92% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Paris, Arkansas
In Paris, 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 Assessor 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 Paris, 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 Paris 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 $602.00 in the 72855 zip code, while the lowest median tax bill is also $602.00 in the same zip code.
Average Paris Assessed Value
$68,400
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 Paris, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72855 | $19,380 | $39,675 | $68,400 | $106,538 | $156,310 |
Source: Ownwell
Property Tax Bills Across Paris, Arkansas
In Paris, located in Logan County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Paris is $68,400. To determine the tax bill, the assessed value is multiplied by the local tax rate. For homeowners, this means that factors such as property size, location, and improvements can affect their tax bills. The tax rate in Paris is relatively modest when compared to the national median property tax rate of 0.99%. Homeowners in the 25th percentile typically see tax bills around $346, while those in the 75th percentile might pay up to $937. The highest tax bills, in the 90th percentile, can reach $1,402. Despite these variations, the median tax bill in the area remains consistent at $602, offering a predictable outlook for budgeting. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Paris Tax Bill
$602
Average Logan County Tax Bill
$602
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Paris, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72855 | $167 | $346 | $602 | $937 | $1,402 |
Source: Ownwell