Pelsor, Arkansas Property Taxes
The median property tax rate in Pelsor, AR is 0.61%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $82,700 in Pelsor, the typical annual property tax bill amounts to $481, significantly below the national median of $2,690. Property taxes in Pelsor are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pelsor's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Pelsor or another part of Newton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pelsor, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$504
Ownwell’s Pelsor Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Pelsor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pelsor to project your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available by scrolling down. Your property’s assessed value is determined by Newton County for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Pelsor, Arkansas
Property taxes in Pelsor, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pelsor is 0.61%, which is significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Pelsor set these rates annually, and they can vary across different neighborhoods. Each year, Pelsor 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 Pelsor's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72856 has the highest median property tax rate of 0.61%, while also having the lowest median tax rate of 0.61%. Understanding how these areas compare with Pelsor provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pelsor Tax Rate
0.61%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pelsor, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72856 | 0.44% | 0.51% | 0.61% | 0.75% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Pelsor, Arkansas
In Pelsor, 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 Newton 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 Pelsor, 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 Pelsor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pelsor is $82,700, with median tax bills ranging from $227 at the 25th percentile to $1,228 at the 90th percentile. The zip code 72856 has the highest and lowest median tax bill at $481.
Average Pelsor Assessed Value
$82,700
Average Newton County Assessed Value
$77,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pelsor, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72856 | $24,160 | $42,675 | $82,700 | $133,475 | $195,320 |
Source: Ownwell
Property Tax Bills Across Pelsor, Arkansas
In Pelsor, Newton County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For homeowners in this area, the median home price is around $82,700. The tax rate is applied to the assessed value to determine the annual tax bill. Factors such as property size, location, and any applicable exemptions can influence the assessed value and, consequently, the tax bill. Homeowners in Pelsor can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is approximately $227, while the 75th percentile tax bill reaches around $752. At the higher end, the 90th percentile tax bill can be as much as $1,228. The median tax bill in the area is $481, which is considerably lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable, but it's essential for homeowners to stay informed about their assessed values and any available exemptions to manage their tax liabilities effectively.
Average Pelsor Tax Bill
$481
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Pelsor, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72856 | $154 | $227 | $481 | $752 | $1,228 |
Source: Ownwell