Frenchmans Bayou, Arkansas Property Taxes
The median property tax rate in Frenchmans Bayou, Arkansas is 0.67%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Frenchmans Bayou being $95,455, the typical annual property tax bill reaches $827, significantly below the national median of $2,690. Property taxes in Frenchmans Bayou are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Frenchmans Bayou'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 Frenchmans Bayou or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Frenchmans Bayou, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$640
Ownwell’s Frenchmans Bayou Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frenchmans Bayou with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frenchmans Bayou 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 Frenchmans Bayou, Arkansas
Property taxes in Frenchmans Bayou, Arkansas, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Frenchmans Bayou is 0.67%, which is lower than both the Arkansas state median of 0.62% and the U.S. national median of 0.99%. Local government entities within Frenchmans Bayou set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frenchmans Bayou 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 Frenchmans Bayou's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72338 zip code has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with Frenchmans Bayou provides valuable insights into the varying tax landscape across Mississippi County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frenchmans Bayou Tax Rate
0.67%
Average Mississippi County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frenchmans Bayou, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72338 | 0.31% | 0.50% | 0.67% | 0.72% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Frenchmans Bayou, Arkansas
In Frenchmans Bayou, 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 Mississippi 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 Frenchmans Bayou, 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 Frenchmans Bayou helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $827 in the 72338 zip code, while the lowest median tax bill is also $827 in the same zip code.
Property Tax Assessment Values Across Frenchmans Bayou, Arkansas
Source: Ownwell
$11,975
$111,732
$211,488
Average Frenchmans Bayou Assessed Value
$95,455
Average Mississippi County Assessed Value
$66,110
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frenchmans Bayou, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72338 | $23,963 | $67,035 | $95,455 | $147,200 | $207,586 |
Source: Ownwell
Property Tax Bills Across Frenchmans Bayou, Arkansas
In Frenchmans Bayou, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. For example, a home with a median home price of $95,455 will have its assessed value calculated accordingly. Once the assessed value is determined, the local tax rate is applied to this value to calculate the total tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. In Mississippi County, property tax bills can vary significantly. For instance, the tax bill for the 25th percentile is around $208, while the 75th percentile sees bills up to $988. At the 90th percentile, homeowners might pay as much as $1,541. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Frenchmans Bayou's property tax rates can be considered relatively moderate, offering some relief to local homeowners.
Average Frenchmans Bayou Tax Bill
$827
Average Mississippi County Tax Bill
$527
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Frenchmans Bayou, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72338 | $118 | $208 | $827 | $988 | $1,541 |
Source: Ownwell