Moro, Monroe County, Arkansas Property Taxes
The median property tax rate in Moro, AR is 0.89%, 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 Moro, the typical annual property tax bill reaches $462, which is significantly below the national median of $2,690. Property taxes in Moro 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 Moro'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 Moro 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
Moro, Monroe County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$459
$426
Ownwell’s Moro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moro 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 Moro, Monroe County, Arkansas
Property taxes in Moro, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moro is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Moro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moro 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 Moro's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72368 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Moro 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 Moro Tax Rate
0.89%
Average Monroe County Tax Rate
0.96%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moro, Monroe County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72368 | 0.85% | 0.89% | 0.89% | 0.89% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Moro, Monroe County, Arkansas
In Moro, 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 Moro, 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 Moro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Moro is $462.00 in zip code 72368, while the lowest is also $462.00 in the same zip code.
Property Tax Assessment Values Across Moro, Monroe County, Arkansas
Source: Ownwell
$31,100
$45,650
$60,200
Average Moro Assessed Value
$51,600
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 Moro, Monroe County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72368 | $8,795 | $30,675 | $51,600 | $96,138 | $224,250 |
Source: Ownwell
Property Tax Bills Across Moro, Monroe County, Arkansas
In Moro, located in Monroe County, AR, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. For homeowners in Moro, the median home price stands at $51,600. The property tax rate in Monroe County is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the market value of the property, any applicable exemptions, and the local tax rate. For instance, the 25th percentile tax bill in Moro is $306, while the 75th percentile reaches $956. At the higher end, the 90th percentile tax bill can be as much as $2,039. These variations reflect differences in property values and applicable exemptions. Understanding these factors is crucial for homeowners, as property taxes can significantly impact their annual expenses. Comparing this with the national median property tax rate of 0.99%, homeowners in Moro might find their tax burdens vary widely based on property values and local tax policies.
Average Moro Tax Bill
$462
Average Monroe County Tax Bill
$356
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Moro, Monroe County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72368 | $200 | $306 | $462 | $956 | $2,039 |
Source: Ownwell