Flippin, Arkansas Property Taxes
The median property tax rate in Flippin, AR is 0.87%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $98,125 in Flippin, the typical annual property tax bill amounts to $785, which is significantly lower than the national median of $2,690. Property taxes in Flippin are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Flippin'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 Flippin or another part of Marion County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Flippin, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$854
$792
Ownwell’s Flippin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flippin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flippin 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 Flippin, Arkansas
Property taxes in Flippin, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Flippin is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Flippin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flippin 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 Flippin's effective property tax rate to other areas in Marion County and the national median. For comparison, the zip code 72634 has both the highest and lowest median property tax rate of 0.87%. Understanding how these areas compare with Flippin 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 Flippin Tax Rate
0.87%
Average Marion County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flippin, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72634 | 0.56% | 0.73% | 0.87% | 0.91% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Flippin, Arkansas
In Flippin, 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 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 Flippin, 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 Flippin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Flippin is $98,125, with tax bills ranging from $462 at the 25th percentile to $2,096 at the 90th percentile. The highest and lowest median tax bill is $785, both in zip code 72634.
Average Flippin Assessed Value
$98,125
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 Flippin, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72634 | $28,460 | $59,025 | $98,125 | $166,212 | $266,320 |
Source: Ownwell
Property Tax Bills Across Flippin, Arkansas
In Flippin, located in Marion County, AR, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners, this means that changes in the real estate market or property modifications can affect their tax bills. The median home price in Flippin is $98,125, with property tax bills ranging from $462 at the 25th percentile to $2,096 at the 90th percentile. The median property tax bill stands at $785, which is slightly lower than the national median property tax rate of 0.99%. This relatively moderate tax burden can be beneficial for homeowners, providing a balance between necessary public services funded by these taxes and the cost to property owners.
Average Flippin Tax Bill
$785
Average Marion County Tax Bill
$708
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Flippin, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72634 | $240 | $462 | $785 | $1,292 | $2,096 |
Source: Ownwell