Little Rock, Arkansas Property Taxes
The median property tax rate in Little Rock, AR is 1.13%, which is notably higher than both the national median of 0.99% and Arkansas's state median of 0.84%. With a median home value of $153,930 in Little Rock, the typical annual property tax bill amounts to $1,668, still below the national median of $2,690. Property taxes in Little Rock are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Navigating Little Rock'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 Little Rock 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
Little Rock, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,739
$1,614
Ownwell’s Little Rock Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Little Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little Rock 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 Little Rock, Arkansas
Property taxes in Little Rock, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Little Rock is 1.13%, which is higher than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Little Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Rock 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 Little Rock's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72103 zip code has the highest median property tax rate of 1.40%, while the 72222 zip code has the lowest median tax rate of 0.69%. Understanding how these cities compare with Little Rock 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 Little Rock Tax Rate
1.13%
Average Pulaski County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Little Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | 0.91% | 0.91% | 0.91% | 0.91% | 0.91% |
| 72103 | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
| 72118 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
| 72201 | 1.22% | 1.40% | 1.40% | 1.40% | 1.40% |
| 72202 | 0.54% | 0.79% | 1.05% | 1.40% | 1.40% |
| 72204 | 0.73% | 0.94% | 1.10% | 1.30% | 1.40% |
| 72205 | 0.78% | 1.06% | 1.22% | 1.40% | 1.40% |
| 72206 | 0.47% | 0.65% | 0.84% | 1.02% | 1.29% |
| 72207 | 0.66% | 0.95% | 1.22% | 1.40% | 1.40% |
| 72209 | 0.66% | 0.93% | 1.07% | 1.24% | 1.40% |
| 72210 | 0.52% | 0.72% | 1.02% | 1.21% | 1.32% |
| 72211 | 1.05% | 1.17% | 1.24% | 1.35% | 1.40% |
| 72212 | 0.90% | 1.06% | 1.20% | 1.36% | 1.40% |
| 72214 | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
| 72215 | N/A | N/A | N/A | N/A | N/A |
| 72222 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| 72223 | 0.75% | 1.02% | 1.15% | 1.29% | 1.31% |
| 72227 | 0.85% | 1.11% | 1.27% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Little Rock, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Little Rock, Pulaski County, 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 local appraisal authorities 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 Little Rock, 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 instance, homeowners in the 72222 zip code face the highest median tax bill of $4,773, while those in the 72103 zip code enjoy the lowest at just $103. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Little Rock Assessed Value
$153,930
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 Little Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | $45,450 | $45,450 | $45,450 | $45,450 | $45,450 |
| 72103 | $7,360 | $7,360 | $7,360 | $7,360 | $7,360 |
| 72118 | $13,355 | $13,355 | $13,355 | $13,355 | $13,355 |
| 72201 | $137,155 | $143,300 | $238,110 | $384,460 | $565,104 |
| 72202 | $23,353 | $57,892 | $112,650 | $230,752 | $403,395 |
| 72204 | $34,267 | $54,080 | $81,165 | $120,700 | $159,282 |
| 72205 | $107,992 | $134,895 | $180,745 | $249,369 | $339,100 |
| 72206 | $7,715 | $32,270 | $67,870 | $126,915 | $199,240 |
| 72207 | $131,798 | $217,312 | $351,898 | $638,722 | $977,643 |
| 72209 | $14,537 | $64,295 | $81,210 | $104,360 | $129,096 |
| 72210 | $19,613 | $110,000 | $184,360 | $226,420 | $312,818 |
| 72211 | $128,012 | $169,494 | $214,948 | $325,869 | $424,990 |
| 72212 | $171,938 | $227,194 | $318,178 | $405,579 | $547,645 |
| 72214 | $10,410 | $10,410 | $10,410 | $10,410 | $10,410 |
| 72215 | N/A | N/A | N/A | N/A | N/A |
| 72222 | $690,570 | $690,570 | $690,570 | $690,570 | $690,570 |
| 72223 | $208,484 | $292,978 | $374,620 | $515,175 | $738,310 |
| 72227 | $130,702 | $175,969 | $215,318 | $278,200 | $424,425 |
Source: Ownwell
Property Tax Bills Across Little Rock, Arkansas
In Little Rock, Pulaski County, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value of the property, which is determined by the county assessor. Factors such as property size, location, and any improvements can influence the assessed value. For homeowners in Little Rock, the median home price stands at $153,930. The property tax rate in Pulaski County can lead to varying tax bills, with the 25th percentile at $783 and the 75th percentile reaching $3,109. The 90th percentile sees tax bills as high as $5,040. Comparatively, the national median property tax rate is 0.99%, making Little Rock's rates relatively moderate. Homeowners in zip code 72222 face the highest median tax bill of $4,773, while those in zip code 72103 enjoy the lowest at just $103. These tax bills significantly impact homeowners' annual expenses, influencing both affordability and long-term financial planning.
Average Little Rock Tax Bill
$1,668
Average Pulaski County Tax Bill
$1,457
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Little Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | $412 | $412 | $412 | $412 | $412 |
| 72103 | $103 | $103 | $103 | $103 | $103 |
| 72118 | $52 | $52 | $52 | $52 | $52 |
| 72201 | $1,677 | $2,006 | $3,310 | $5,382 | $7,648 |
| 72202 | $242 | $492 | $1,035 | $2,503 | $4,711 |
| 72204 | $295 | $517 | $898 | $1,353 | $1,852 |
| 72205 | $1,133 | $1,534 | $2,087 | $2,908 | $4,016 |
| 72206 | $69 | $236 | $534 | $969 | $1,565 |
| 72207 | $1,585 | $2,270 | $3,653 | $6,748 | $11,236 |
| 72209 | $144 | $642 | $868 | $1,112 | $1,413 |
| 72210 | $147 | $714 | $1,905 | $2,534 | $3,133 |
| 72211 | $1,529 | $2,067 | $2,636 | $3,911 | $5,186 |
| 72212 | $1,976 | $2,492 | $3,674 | $4,814 | $6,604 |
| 72214 | $146 | $146 | $146 | $146 | $146 |
| 72215 | N/A | N/A | N/A | N/A | N/A |
| 72222 | $4,773 | $4,773 | $4,773 | $4,773 | $4,773 |
| 72223 | $1,783 | $3,244 | $4,235 | $5,841 | $8,002 |
| 72227 | $1,496 | $2,027 | $2,558 | $3,321 | $5,336 |
Source: Ownwell