Bruno, Arkansas Property Taxes
The median property tax rate in Bruno, AR is 0.89%, which is lower than the national median of 0.99% but slightly higher than the Arkansas state median of 0.84%. With a median home value of $40,700 in Bruno, the typical annual property tax bill amounts to $263, significantly below the national median of $2,690. Property taxes in Bruno are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Bruno'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 Bruno or another part of Marion County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bruno, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$362
$336
Ownwell’s Bruno Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bruno with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bruno 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 Bruno, Arkansas
Property taxes in Bruno, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bruno is 0.89%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Bruno set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bruno 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 Bruno's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72682 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Bruno provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bruno Tax Rate
0.89%
Average Marion County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bruno, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72682 | 0.55% | 0.79% | 0.89% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Bruno, Arkansas
In Bruno, 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 Marion County Assessor's Office 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 Bruno, 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 Bruno 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 is 72682 at $263, which is also the lowest.
Average Bruno Assessed Value
$40,700
Average Marion County Assessed Value
$88,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bruno, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72682 | $4,700 | $9,500 | $40,700 | $142,600 | $221,660 |
Source: Ownwell
Property Tax Bills Across Bruno, Arkansas
In Bruno, located in Marion County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. For example, with the median home price in Bruno being $40,700, the assessed value would be a fraction of this amount. The tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and local tax rates. In Bruno, the property tax bills vary significantly, with the 25th percentile at $52 and the 75th percentile reaching $1,196. For homeowners, this means that property taxes can represent a substantial portion of homeownership costs, affecting affordability and financial planning. Compared to the national median property tax rate of 0.99%, Bruno's tax bills reflect the localized economic conditions and property values, providing a unique landscape for homeowners.
Average Bruno Tax Bill
$263
Average Marion County Tax Bill
$708
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bruno, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72682 | $43 | $52 | $263 | $1,196 | $1,803 |
Source: Ownwell