Prescott, Nevada County, Arkansas Property Taxes

Name: Property Tax Bills Across Prescott, Nevada County, Arkansas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Prescott, Arkansas effective property tax rate: 0.99%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Prescott, Arkansas home value: $33,300
Median annual Prescott, Arkansas tax bill: $246, $2,154 lower than the national median property tax bill of $2,400.

How are property taxes in Nevada County calculated?

Property taxes in Prescott, Arkansas are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Prescott’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Prescott, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Prescott, Nevada County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.99%

Estimate Property Tax Bill

$330

$306

Ownwell’s Prescott Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Prescott with just two data points. By entering your property's estimated assessed value, our calculator applies Prescott’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Nevada County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Prescott, Nevada County, Arkansas

Local government entities determine property tax rates, which can significantly differ within a state. This variation occurs because each county, such as 05099 in Arkansas, annually estimates its budgetary needs for essential services and divides this amount by the total assessed value of all taxable properties within its borders. This process results in the property tax rate. While votes and legislative measures play a role in setting these rates and budgets, this is the core of the annual procedure. In Prescott, located in Nevada County, Arkansas, the effective property tax rate stands at 0.99%, aligning with both the highest and lowest median rates in the state. This rate is slightly below the national median property tax rate of 1.02%. Consequently, homeowners in Prescott benefit from property tax bills that are generally lower than the national median of $2,400. Comparing Prescott's effective property tax rate with other cities in Arkansas and the broader national context offers valuable insights into local tax burdens and financial planning for property owners.

Property Tax Rates Across Prescott, Nevada County, Arkansas

Source: Ownwell

0.62%

0.80%

0.99%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Prescott Tax Rate

0.99%

Median Effective Nevada County Tax Rate

0.86%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Prescott, Nevada County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
71857	0.20%	0.49%	0.99%	1.09%	1.09%

Source: Ownwell

Property Tax Assessment Values Across Prescott, Nevada County, Arkansas

When examining property taxes in Prescott, Arkansas, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Nevada County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Nevada County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Prescott. For example, the median home price in Prescott is $33,300, with tax bills ranging significantly across the county. Zip code 71857 has the highest median home price at $33,300.

Property Tax Assessment Values Across Prescott, Nevada County, Arkansas

Source: Ownwell

$22,650

$49,250

$75,850

Median Prescott Market Value

$33,300

Median Nevada County Market Value

$30,700

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Prescott, Nevada County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
71857	$6,450	$14,750	$33,300	$68,075	$117,220

Source: Ownwell

Property Tax Bills Across Prescott, Nevada County, Arkansas

In Prescott, Nevada County, AR, property tax bills are determined by assessing a property's market value and applying the local tax rate. With the median home price at $33,300, homeowners in Prescott experience a median property tax bill of $246, which falls significantly below the national median of $2,400. The tax bill can vary significantly, with the 25th percentile at $98 and the 75th percentile reaching $518. At the 90th percentile, the tax bill can rise to $899. These variations highlight the importance of accurate property assessments. Homeowners can be affected by these assessments, as an overvalued property can lead to a higher tax bill, impacting their financial situation. Ownwell assists homeowners by providing property tax appeal services, ensuring that their property is assessed fairly. By leveraging our expertise, homeowners can potentially reduce their tax bills, aligning them more closely with the true market value of their property. This not only provides immediate financial relief but also ensures long-term savings.

Property Tax Bills Across Prescott, Nevada County, Arkansas

Source: Ownwell

$117

$249

$380

Median Prescott Tax Bill

$246

Median Nevada County Tax Bill

$203

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Prescott, Nevada County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
71857	$34	$98	$246	$518	$899

Source: Ownwell