Wilson, Arkansas Property Taxes
The median property tax rate in Wilson, AR is 0.61%, which is significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $103,465 in Wilson, the typical annual property tax bill is around $623, much less than the national median of $2,690. Property taxes in Wilson are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Wilson'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 Wilson or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wilson, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$631
$586
Ownwell’s Wilson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilson 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 Wilson, Arkansas
Property taxes in Wilson, Arkansas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilson is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Wilson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilson 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 Wilson's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72395 zip code has the highest median property tax rate of 0.61%, while the 72395 zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Wilson 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 Wilson Tax Rate
0.61%
Average Mississippi County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72395 | 0.43% | 0.54% | 0.61% | 0.71% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Wilson, Arkansas
In Wilson, 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 Wilson, 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 Wilson 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 72395, with a median bill of $623, while the lowest is also 72395, with the same median bill of $623.
Average Wilson Assessed Value
$103,465
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 Wilson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72395 | $54,830 | $75,868 | $103,465 | $144,192 | $230,125 |
Source: Ownwell
Property Tax Bills Across Wilson, Arkansas
Property tax bills in Wilson, located in Mississippi County, AR, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For homeowners in Wilson, the median home price is $103,465. At the 25th percentile, tax bills are around $428, while at the 75th percentile, they rise to approximately $963. The highest median tax bill in the area is $623, found in the 72395 zip code. Compared to the national median property tax rate of 0.99%, Wilson's tax bills can be considered relatively moderate. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Homeowners should understand these factors to better anticipate their annual property tax obligations.
Average Wilson Tax Bill
$623
Average Mississippi County Tax Bill
$527
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72395 | $310 | $428 | $623 | $963 | $1,614 |
Source: Ownwell