Stamps, Arkansas Property Taxes
The median property tax rate in Stamps, Arkansas is 0.62%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Stamps at $75,850, the typical annual property tax bill is $380, well below the national median of $2,690. Property taxes in Stamps 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 Stamps' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Stamps 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
Stamps, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$470
$436
Ownwell’s Stamps Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stamps with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stamps 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 Stamps, Arkansas
Property taxes in Stamps, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stamps is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Stamps set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stamps 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 Stamps' effective property tax rate to other regions and the national median. For comparison, the 71860 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these areas compare with Stamps provides valuable insights into the varying tax landscape across Nevada County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stamps Tax Rate
0.62%
Average Nevada County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stamps, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71860 | 0.27% | 0.39% | 0.62% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Stamps, Arkansas
In Stamps, 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 Nevada 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 Stamps, 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 Stamps helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Stamps is $75,850, with the highest median tax bill being $380 in zip code 71860.
Average Stamps Assessed Value
$75,850
Average Nevada County Assessed Value
$30,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stamps, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71860 | $14,915 | $26,438 | $75,850 | $94,438 | $117,620 |
Source: Ownwell
Property Tax Bills Across Stamps, Arkansas
In Stamps, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $75,850, homeowners can expect varying tax bills depending on their property's assessed value. The tax bill for the 25th percentile is around $257, while it rises to $565 for the 75th percentile, and reaches up to $819 for the 90th percentile. The highest and lowest median tax bills in the area, both at $380, are found in zip code 71860. These figures are relatively low compared to the national median property tax rate of 0.99%, offering some relief to homeowners in Stamps. Factors such as property improvements, changes in market value, and local tax rates can influence the final tax bill. Understanding these components helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Stamps Tax Bill
$380
Average Nevada County Tax Bill
$203
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Stamps, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71860 | $92 | $257 | $380 | $565 | $819 |
Source: Ownwell