Clarendon, Arkansas Property Taxes
The median property tax rate in Clarendon, AR is 1.07%, which is higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Clarendon at $31,100, the typical annual property tax bill amounts to $349, significantly lower than the national median of $2,690. Property taxes in Clarendon 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 Clarendon'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 Clarendon 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
Clarendon, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$333
$309
Ownwell’s Clarendon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarendon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarendon 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 Clarendon, Arkansas
Property taxes in Clarendon, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarendon is 0.68%, lower than both the Arkansas state median of 0.63% and the U.S. national median of 0.99%. Local government entities within Clarendon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarendon 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 Clarendon's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72029 has the highest median property tax rate of 0.68%, while the same zip code 72029 also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Clarendon 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 Clarendon Tax Rate
1.07%
Average Monroe County Tax Rate
0.96%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarendon, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72029 | 0.87% | 0.96% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Clarendon, Arkansas
In Clarendon, 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 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 Clarendon, 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. For instance, the median home price in Clarendon is $31,100, with property tax bills ranging from $187 at the 25th percentile to $820 at the 90th percentile. The zip code 72029 has the highest and lowest median tax bill, both at $349. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clarendon Assessed Value
$31,100
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 Clarendon, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72029 | $4,080 | $14,700 | $31,100 | $50,300 | $77,090 |
Source: Ownwell
Property Tax Bills Across Clarendon, Arkansas
In Clarendon, Monroe County, AR, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Clarendon is $31,100, and the property tax rate is applied to this assessed value to determine the tax bill. Various factors influence the final tax bill, including the property's location, size, and usage. For example, the tax bill at the 25th percentile is $187, while at the 75th percentile, it rises to $541, and at the 90th percentile, it reaches $820. Homeowners in Clarendon should be aware that their property tax bills can significantly impact their annual expenses. The highest median tax bill in the area is $349, which is notably lower than the national median property tax rate of 0.99%. This relatively low tax burden can be a financial relief for homeowners, making Clarendon an attractive place for property investment. Understanding these factors can help homeowners plan their budgets more effectively and appeal their tax assessments if necessary.
Average Clarendon Tax Bill
$349
Average Monroe County Tax Bill
$356
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarendon, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72029 | $110 | $187 | $349 | $541 | $820 |
Source: Ownwell