Russellville, Arkansas Property Taxes
The median property tax rate in Russellville, AR is 0.91%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Russellville at $121,350, the typical annual property tax bill reaches $1,053, which is below the national median of $2,690. Property taxes in Russellville are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Russellville'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 Russellville or another part of Pope County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Russellville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,104
Ownwell’s Russellville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Russellville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Russellville 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 Russellville, Arkansas
Property taxes in Russellville, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Russellville is 0.91%, which is slightly below the U.S. national median of 0.99%. Local government entities within Russellville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Russellville 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 Russellville's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72801 has the highest median property tax rate of 0.92%, while the zip code 72802 has the lowest median tax rate of 0.91%. Understanding how these areas compare with Russellville provides valuable insights into the varying tax landscape across Pope County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Russellville Tax Rate
0.91%
Average Pope County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Russellville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72801 | 0.64% | 0.84% | 0.92% | 0.92% | 0.92% |
| 72802 | 0.65% | 0.81% | 0.91% | 0.92% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Russellville, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Russellville, Arkansas. The market value represents 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 Pope County Assessor 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 Russellville, 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. For example, the highest median tax bill is in the 72802 zip code at $1,193, while the lowest is in the 72801 zip code at $881. Being aware of these valuation processes in Russellville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Russellville Assessed Value
$121,350
Average Pope County Assessed Value
$105,400
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Russellville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72801 | $30,100 | $67,350 | $99,150 | $148,850 | $215,200 |
| 72802 | $30,430 | $87,000 | $137,900 | $198,300 | $283,260 |
Source: Ownwell
Property Tax Bills Across Russellville, Arkansas
In Russellville, located in Pope County, AR, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is typically a percentage of the market value, and in Arkansas, this percentage is set by the state. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the property tax bill. Several factors influence the assessed value, including the home's location, size, and condition. Homeowners in Russellville can expect varying tax bills depending on these factors. For instance, the median home price in Russellville is $121,350, and tax bills range significantly. The 25th percentile tax bill is $678, while the 75th percentile reaches $1,591, and the 90th percentile can be as high as $2,267. Comparatively, the highest median tax bill in the area is $1,193 in the 72802 zip code, while the lowest is $881 in the 72801 zip code. These property taxes impact homeowners by influencing their overall housing costs and can vary widely even within the same city.
Average Russellville Tax Bill
$1,053
Average Pope County Tax Bill
$927
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Russellville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72801 | $438 | $625 | $881 | $1,287 | $1,894 |
| 72802 | $317 | $741 | $1,193 | $1,716 | $2,502 |
Source: Ownwell