Perryville, Arkansas Property Taxes
The median property tax rate in Perryville, AR is 0.61%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $86,900 in Perryville, the typical annual property tax bill comes to $488, significantly below the national median of $2,690. Property taxes in Perryville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Perryville'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 Perryville 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
Perryville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$530
$492
Ownwell’s Perryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perryville 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 Perryville, Arkansas
Property taxes in Perryville, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perryville is 0.61%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Perryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perryville 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 Perryville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72126 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Perryville provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Perryville Tax Rate
0.61%
Average Perry County Tax Rate
0.63%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Perryville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72126 | 0.15% | 0.34% | 0.61% | 0.85% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Perryville, Arkansas
In Perryville, 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 Perry 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 Perryville, 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. Perryville’s median home price is $86,900, with tax bills ranging significantly. The 25th percentile tax bill is $215, while the 75th percentile is $855, and the 90th percentile reaches $1,389. The zip code 72126 has both the highest and lowest median tax bill, at $488. Being aware of these valuation processes in Perryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Perryville Assessed Value
$86,900
Average Perry County Assessed Value
$78,175
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Perryville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72126 | $19,990 | $50,850 | $86,900 | $138,100 | $207,690 |
Source: Ownwell
Property Tax Bills Across Perryville, Arkansas
In Perryville, located in Perry County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Perryville face varying tax bills depending on several factors, including the assessed value of their homes and the local tax rate. The median home price in Perryville is $86,900, which serves as a benchmark for determining tax obligations. Homeowners in the 25th percentile can expect to pay around $215, while those in the 75th percentile face bills closer to $855. The top 10% of property tax bills reach up to $1,389. Compared to the national median property tax rate of 0.99%, Perryville's property taxes are relatively modest. The highest and lowest median tax bills in the area are both $488, indicating a level of consistency in tax rates across different properties. This system ensures that property taxes are distributed fairly, impacting homeowners based on the assessed value of their properties.
Average Perryville Tax Bill
$488
Average Perry County Tax Bill
$443
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Perryville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72126 | $71 | $215 | $488 | $855 | $1,389 |
Source: Ownwell