Little Rock Air Force Base, Arkansas Property Taxes
The median property tax rate in Little Rock Air Force Base, AR is 0.61%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $105,642 in Little Rock Air Force Base, the typical annual property tax bill amounts to $634, far below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Little Rock Air Force Base's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Little Rock Air Force Base or another part of Pulaski County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Little Rock Air Force Base, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$644
$598
Ownwell’s LITTLE ROCK AIR FORCE BASE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LITTLE ROCK AIR FORCE BASE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LITTLE ROCK AIR FORCE BASE 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 Air Force Base, Arkansas
Property taxes in LITTLE ROCK AIR FORCE BASE, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LITTLE ROCK AIR FORCE BASE is 0.61%, lower than the U.S. national median of 0.99%. Local government entities within LITTLE ROCK AIR FORCE BASE set these rates annually, and they can vary significantly across different neighborhoods. Each year, LITTLE ROCK AIR FORCE BASE 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 AIR FORCE BASE's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72099 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with LITTLE ROCK AIR FORCE BASE 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 Air Force Base Tax Rate
0.61%
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 Air Force Base, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72099 | 0.58% | 0.59% | 0.61% | 0.63% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Little Rock Air Force Base, Arkansas
In LITTLE ROCK AIR FORCE BASE, 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 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 LITTLE ROCK AIR FORCE BASE, 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 LITTLE ROCK AIR FORCE BASE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72099 has both the highest and lowest median tax bill, which stands at $634.
Property Tax Assessment Values Across Little Rock Air Force Base, Arkansas
Source: Ownwell
$6,305
$348,438
$690,570
Average Little Rock Air Force Base Assessed Value
$105,642
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 Air Force Base, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72099 | $86,760 | $93,841 | $105,642 | $117,444 | $124,524 |
Source: Ownwell
Property Tax Bills Across Little Rock Air Force Base, Arkansas
In Little Rock Air Force Base, Pulaski County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. Homeowners in this area experience a median property tax bill of $634 annually, which aligns with the national median property tax rate of 0.99%. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill is $585, while the 75th percentile reaches $683, with the 90th percentile capping at $713. These variations highlight how differences in property values and local tax policies can impact homeowners. Understanding these factors is crucial for homeowners as it affects their annual financial planning and the overall cost of homeownership. Being informed about property tax calculations can help homeowners anticipate expenses and potentially explore appeal options if they believe their property has been over-assessed.
Average Little Rock Air Force Base Tax Bill
$634
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 Air Force Base, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72099 | $556 | $585 | $634 | $683 | $713 |
Source: Ownwell