Yellville, Marion County, Arkansas Property Taxes
The median property tax rate in Yellville, AR is 0.85%, slightly below the national median of 0.99% but just above the Arkansas state median of 0.84%. With a median home value of $84,350 in Yellville, the typical annual property tax bill amounts to $653, which is significantly lower than the national median of $2,690. Property taxes in Yellville are based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Yellville'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 Yellville or another part of Marion County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yellville, Marion County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$717
$665
Ownwell’s Yellville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yellville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yellville 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 Yellville, Marion County, Arkansas
Property taxes in Yellville, Arkansas, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Yellville is 0.85%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Yellville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yellville 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 Yellville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72687 has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Yellville 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 Yellville Tax Rate
0.85%
Average Marion County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yellville, Marion County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72687 | 0.53% | 0.69% | 0.85% | 0.92% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Yellville, Marion County, Arkansas
In Yellville, 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 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 Yellville, 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 Yellville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Yellville, Marion County, Arkansas
Source: Ownwell
$43,525
$118,475
$193,425
Average Yellville Assessed Value
$84,350
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 Yellville, Marion County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72687 | $17,050 | $40,600 | $84,350 | $139,400 | $216,530 |
Source: Ownwell
Property Tax Bills Across Yellville, Marion County, Arkansas
In Yellville, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, the median home price in Yellville is $84,350. Property taxes are then levied on this assessed value using the applicable tax rate. In Marion County, the tax rate is influenced by various local factors, including school district funding and municipal services. Homeowners in Yellville can expect their tax bills to vary significantly. For example, the tax bill at the 25th percentile is $329, while at the 75th percentile, it rises to $1,083. At the 90th percentile, the tax bill can reach up to $1,657. These variations highlight how factors such as property size, location, and improvements can affect the overall tax burden. Compared to the national median property tax rate of 0.99%, Yellville's rates can be considered relatively low, offering some relief to homeowners. However, understanding these nuances is crucial for effective financial planning and property investment.
Average Yellville Tax Bill
$653
Average Marion County Tax Bill
$708
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Yellville, Marion County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72687 | $152 | $329 | $653 | $1,083 | $1,657 |
Source: Ownwell