Scranton, Arkansas Property Taxes
The median property tax rate in Scranton, 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 Scranton at $85,300, the typical annual property tax bill reaches $685, which is significantly less than the national median of $2,690. Property taxes in Scranton 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 Scranton'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 Scranton or another part of Logan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Scranton, 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 Scranton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scranton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scranton 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 Scranton, Arkansas
Property taxes in Scranton, Arkansas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Scranton is 0.92%, which is slightly below the U.S. national median of 0.99%. Local government entities within Scranton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scranton 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 Scranton's effective property tax rate to other areas in Logan County and the national median. For comparison, the zip code 72863 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these areas compare with Scranton 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 Scranton 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 Scranton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72863 | 0.64% | 0.80% | 0.92% | 0.92% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Scranton, Arkansas
In Scranton, 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 Scranton, 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 Scranton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill of $685 is 72863, which is also the lowest median tax bill in the area.
Average Scranton Assessed Value
$85,300
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 Scranton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72863 | $19,560 | $43,700 | $85,300 | $133,250 | $209,820 |
Source: Ownwell
Property Tax Bills Across Scranton, Arkansas
In Scranton, Logan County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For example, with a median home price of $85,300, the assessed value is determined, and then the local tax rate is applied. The property tax rate in this region is influenced by various factors, including local government budgets and public service needs. Homeowners in Scranton can expect a wide range of tax bills. For instance, the 25th percentile tax bill is around $364, while those in the 75th percentile pay approximately $1,113. At the higher end, the 90th percentile tax bill reaches $1,786. This variability highlights how different factors, such as property size and location, impact the final tax amount. Compared to the national median property tax rate of 0.99%, Scranton's tax rates can be seen as relatively moderate, providing some financial relief to homeowners. Understanding these calculations helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Scranton Tax Bill
$685
Average Logan County Tax Bill
$602
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Scranton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72863 | $166 | $364 | $685 | $1,113 | $1,786 |
Source: Ownwell