Durham, Arkansas Property Taxes
The median property tax rate in Durham, AR is 0.35%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $108,600 in Durham, the typical annual property tax bill is $381, well below the national median of $2,690. Property taxes in Durham are calculated based on the tax assessed value, which often falls below the market value thanks to various exemptions such as primary residence and agricultural exemptions. Understanding Durham'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 Durham 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
Durham, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$380
$353
Ownwell’s Durham Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Durham with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Durham to estimate your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, further localized information is available below. Your property’s assessed value is the value assigned by Pulaski County for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Durham, Arkansas
Property taxes in Durham, Arkansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Durham is 0.35%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Durham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Durham 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 Durham's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in Arkansas is 0.87%, while the lowest median tax rate is 0.34%. Understanding how these cities compare with Durham provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Durham Tax Rate
0.35%
Average Pulaski County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Durham, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27707 | 0.35% | 0.35% | 0.35% | 0.35% | 0.35% |
Source: Ownwell
Property Tax Assessment Values Across Durham, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Durham, Arkansas. 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 Pulaski 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 Durham, 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. For instance, the zip code 27707 has the highest and lowest median tax bill, both at $381. 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 Durham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Durham Assessed Value
$108,600
Average Pulaski County Assessed Value
$148,242
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Durham, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27707 | $108,600 | $108,600 | $108,600 | $108,600 | $108,600 |
Source: Ownwell
Property Tax Bills Across Durham, Arkansas
In Durham, Pulaski County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Durham is $108,600, and property taxes are determined by applying the local tax rate to this assessed value. The tax rate in Durham is designed to fund essential public services such as schools, infrastructure, and emergency services. Homeowners in Durham can expect their tax bills to fall within a specific range, with the 25th, 75th, and 90th percentiles all showing a tax bill of $381. This uniformity suggests a consistent tax rate application across different property values. Compared to the national median property tax rate of 0.99%, Durham's property tax burden is relatively modest, providing some financial relief to homeowners. This consistency in tax bills ensures predictability, aiding homeowners in financial planning and budgeting.
Average Durham Tax Bill
$381
Average Pulaski County Tax Bill
$1,457
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Durham, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27707 | $381 | $381 | $381 | $381 | $381 |
Source: Ownwell