Glenwood, Arkansas Property Taxes
The median property tax rate in Glenwood, AR is 0.86%, slightly higher than the Arkansas state median of 0.84% but below the national median of 0.99%. With a median home value of $67,050 in Glenwood, the typical annual property tax bill is $576, significantly lower than the national median of $2,690. Property taxes in Glenwood are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Glenwood'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 Glenwood or another part of Pike County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glenwood, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$577
Ownwell’s Glenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glenwood 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 Glenwood, Arkansas
Property taxes in Glenwood, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glenwood is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Glenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glenwood 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 Glenwood's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71943 zip code has the highest median property tax rate of 0.86%, while the same 71943 zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Glenwood provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glenwood Tax Rate
0.86%
Average Pike County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glenwood, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71943 | 0.58% | 0.72% | 0.86% | 0.92% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Glenwood, Arkansas
In Glenwood, 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 Pike 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 Glenwood, 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 Glenwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 71943 has both the highest and lowest median tax bill, valued at $576.
Average Glenwood Assessed Value
$67,050
Average Pike County Assessed Value
$63,750
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glenwood, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71943 | $6,310 | $26,475 | $67,050 | $135,162 | $222,505 |
Source: Ownwell
Property Tax Bills Across Glenwood, Arkansas
In Glenwood, located in Pike 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 Glenwood is $67,050. Homeowners can expect their property tax bill to vary significantly, with the 25th percentile at $256 and the 75th percentile reaching $1,082. The highest median tax bill recorded in the area is $576, which is notably lower than the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services like schools, infrastructure, and emergency services. For homeowners, understanding these factors is crucial, as property taxes can significantly impact annual expenses. Lower property tax rates in Glenwood can make homeownership more affordable compared to other regions, but it's essential for homeowners to stay informed about any changes in local tax policies.
Average Glenwood Tax Bill
$576
Average Pike County Tax Bill
$523
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Glenwood, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71943 | $82 | $256 | $576 | $1,082 | $1,706 |
Source: Ownwell