Brinkley, Arkansas Property Taxes
The median property tax rate in Brinkley, AR is 0.96%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Brinkley at $32,700, the typical annual property tax bill is $323, significantly below the national median of $2,690. Property taxes in Brinkley 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 Brinkley'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 Brinkley or another part of Monroe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brinkley, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$314
Ownwell’s Brinkley Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Brinkley with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Brinkley to estimate your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in more granular trends, additional localized information is available below. Your property’s assessed value is the value determined by Monroe County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Brinkley, Arkansas
Property taxes in Brinkley, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brinkley is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Brinkley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brinkley 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 Brinkley's effective property tax rate to other areas in Monroe County and the national median. For comparison, the zip code 72021 has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these areas compare with Brinkley provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brinkley Tax Rate
0.96%
Average Monroe County Tax Rate
0.96%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brinkley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72021 | 0.85% | 0.89% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Brinkley, Arkansas
In Brinkley, 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 Monroe 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 Brinkley, 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 Brinkley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 72021, with a median tax bill of $323.
Average Brinkley Assessed Value
$32,700
Average Monroe County Assessed Value
$34,500
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brinkley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72021 | $7,010 | $17,500 | $32,700 | $68,300 | $128,600 |
Source: Ownwell
Property Tax Bills Across Brinkley, Arkansas
In Brinkley, Monroe County, AR, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Brinkley is $32,700. Property taxes are then applied to this assessed value using the local tax rate. For example, the tax bill at the 25th percentile is $186, while at the 75th percentile, it rises to $643. Those in the 90th percentile can expect to pay around $1,145. Various factors influence your property tax bill, including changes in home values, local tax rates, and potential exemptions or abatements. For homeowners, these taxes fund essential public services such as schools, roads, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Brinkley's tax rates can vary significantly, making it crucial for homeowners to understand their specific obligations. The highest and lowest median tax bills in the area are both $323, indicating some consistency in tax assessments within the zip code 72021.
Average Brinkley Tax Bill
$323
Average Monroe County Tax Bill
$356
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Brinkley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72021 | $112 | $186 | $323 | $643 | $1,145 |
Source: Ownwell