Winslow, Arkansas Property Taxes
The median property tax rate in Winslow, AR is 0.66%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $79,550 in Winslow, the typical annual property tax bill comes to $487, which is significantly less than the national median of $2,690. Property taxes in Winslow are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Winslow'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 Winslow or another part of Madison County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Winslow, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$525
$487
Ownwell’s Winslow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winslow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winslow 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 Winslow, Arkansas
Property taxes in Winslow, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winslow is 0.66%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Winslow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winslow 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 Winslow's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72959 has the highest median property tax rate of 0.66%, while also having the lowest median tax rate of 0.66%. Understanding how these cities compare with Winslow provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winslow Tax Rate
0.66%
Average Madison County Tax Rate
0.68%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winslow, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72959 | 0.28% | 0.44% | 0.66% | 0.86% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Winslow, Arkansas
In Winslow, 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 Madison 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 Winslow, 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 Winslow is $79,550, with tax bills ranging from $352 at the 25th percentile to $1,475 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 72959, with a median tax bill of $487. Being aware of these valuation processes in Winslow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Winslow Assessed Value
$79,550
Average Madison County Assessed Value
$78,900
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winslow, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72959 | $34,420 | $48,800 | $79,550 | $130,025 | $204,240 |
Source: Ownwell
Property Tax Bills Across Winslow, Arkansas
In Winslow, property tax bills are calculated based on the assessed value of a home, which is determined by the Madison County assessor's office. The assessed value is a percentage of the market value of the property. Factors such as the property's location, size, and any improvements or additions can influence this assessed value. Once the assessed value is established, the property tax rate is applied to determine the tax bill. For Winslow, the median home price is $79,550. Homeowners in the 25th percentile can expect tax bills around $352, while those in the 75th percentile may see bills up to $798. The 90th percentile sees the highest tax bills, reaching $1,475. These property taxes fund essential public services like schools, emergency services, and infrastructure maintenance. For homeowners, understanding how these factors influence their tax bill can help in budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Winslow's tax rates offer a reasonable cost for the benefits received.
Average Winslow Tax Bill
$487
Average Madison County Tax Bill
$463
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Winslow, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72959 | $224 | $352 | $487 | $798 | $1,475 |
Source: Ownwell