Pettigrew, Arkansas Property Taxes
The median property tax rate in Pettigrew, AR is 0.79%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value in Pettigrew of $44,625, the typical annual property tax bill comes to $326, significantly below the national median of $2,690. Property taxes in Pettigrew are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pettigrew'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 Pettigrew 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
Pettigrew, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$353
$327
Ownwell’s Pettigrew Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pettigrew with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pettigrew 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 Pettigrew, Arkansas
Property taxes in Pettigrew, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pettigrew is 0.61%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Pettigrew set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pettigrew 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 Pettigrew's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72752 has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Pettigrew 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 Pettigrew Tax Rate
0.79%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pettigrew, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72752 | 0.69% | 0.73% | 0.79% | 0.85% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Pettigrew, Arkansas
In Pettigrew, 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 Pettigrew, 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. The median home price in Pettigrew is $44,625, with tax bills ranging from $269 at the 25th percentile to $418 at the 90th percentile. The highest and lowest median tax bills are both $326 in the 72752 zip code. 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 Pettigrew helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pettigrew Assessed Value
$44,625
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 Pettigrew, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72752 | $27,405 | $33,862 | $44,625 | $55,388 | $61,845 |
Source: Ownwell
Property Tax Bills Across Pettigrew, Arkansas
In Pettigrew, located in Newton County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Pettigrew is $44,625. Homeowners in this area can expect their property tax bills to vary, with the 25th percentile at $269 and the 75th percentile at $384. At the higher end, the 90th percentile tax bill reaches $418. These figures highlight how property tax bills can differ significantly within the same locality. The tax rate applied to the assessed value determines the final tax bill. Pettigrew's rates are relatively modest compared to the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial as property taxes can impact overall housing costs and budgeting. Accurate assessments ensure that homeowners pay a fair share, contributing to local services and infrastructure.
Average Pettigrew Tax Bill
$326
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Pettigrew, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72752 | $235 | $269 | $326 | $384 | $418 |
Source: Ownwell