North Little Rock, Arkansas Property Taxes
The median property tax rate in North Little Rock, AR is 1.05%, which is higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in North Little Rock at $111,960, the typical annual property tax bill reaches $1,098, still below the national median of $2,690. Property taxes in North Little Rock are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding North 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 North 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
North Little Rock, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s North Little Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Little Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North 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 North Little Rock, Arkansas
Property taxes in North Little Rock, Arkansas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in North Little Rock is 1.05%, which is higher than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within North Little Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, North 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 North Little Rock's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72116 zip code has the highest median property tax rate of 1.16%, while the 72199 zip code has the lowest median tax rate of 0.51%. Understanding how these cities compare with North 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 North Little Rock Tax Rate
1.05%
Average Pulaski County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Little Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72076 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| 72113 | 0.47% | 0.66% | 0.90% | 1.02% | 1.18% |
| 72114 | 0.66% | 0.86% | 1.15% | 1.34% | 1.34% |
| 72116 | 0.78% | 1.01% | 1.16% | 1.32% | 1.34% |
| 72117 | 0.59% | 0.80% | 1.01% | 1.12% | 1.34% |
| 72118 | 0.62% | 0.85% | 1.02% | 1.19% | 1.34% |
| 72120 | 0.52% | 0.71% | 0.81% | 0.89% | 1.04% |
| 72199 | 0.46% | 0.48% | 0.51% | 0.54% | 0.56% |
| 72217 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across North Little Rock, Arkansas
In North Little Rock, 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 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. 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 example, the median home price in North Little Rock is $111,960, with tax bills ranging from $497 at the 25th percentile to $2,757 at the 90th percentile. The highest median tax bill is $2,205 in zip code 72116, while the lowest is $248 in zip code 72199. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, and apply for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across North Little Rock, Arkansas
Source: Ownwell
$6,305
$348,438
$690,570
Average North Little Rock Assessed Value
$111,960
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 North Little Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72076 | $7,210 | $7,315 | $7,850 | $9,188 | $11,365 |
| 72113 | $17,858 | $60,312 | $149,615 | $254,212 | $385,219 |
| 72114 | $5,778 | $25,802 | $39,675 | $57,740 | $102,055 |
| 72116 | $129,998 | $160,181 | $203,682 | $248,560 | $308,316 |
| 72117 | $9,132 | $39,749 | $66,618 | $143,748 | $185,562 |
| 72118 | $33,810 | $62,920 | $93,940 | $137,992 | $190,694 |
| 72120 | $30,661 | $106,110 | $124,425 | $137,626 | $152,492 |
| 72199 | $22,523 | $31,040 | $45,235 | $59,430 | $67,947 |
| 72217 | $117,130 | $117,130 | $117,130 | $117,130 | $117,130 |
Source: Ownwell
Property Tax Bills Across North Little Rock, Arkansas
In North Little Rock, Pulaski County, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, applied to this assessed value, determines the final tax bill. Factors such as property location, size, and condition influence the market value, which in turn affects the assessed value. For instance, the median home price in North Little Rock is $111,960. Homeowners in this region experience a wide range of property tax bills, from the 25th percentile at $497 to the 90th percentile at $2,757. The highest median tax bill in the area is $2,205, found in zip code 72116, while the lowest is $248 in zip code 72199. These variations illustrate how different factors can significantly impact a homeowner's tax burden. Compared to the national median property tax rate of 0.99%, North Little Rock's property tax rates can be relatively modest or quite substantial, depending on specific property characteristics and locations.
Average North Little Rock Tax Bill
$1,098
Average Pulaski County Tax Bill
$1,457
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across North Little Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72076 | $73 | $74 | $80 | $93 | $115 |
| 72113 | $133 | $385 | $1,062 | $2,763 | $3,839 |
| 72114 | $59 | $246 | $406 | $637 | $1,083 |
| 72116 | $1,364 | $1,711 | $2,205 | $2,832 | $3,525 |
| 72117 | $85 | $330 | $590 | $1,486 | $1,894 |
| 72118 | $276 | $604 | $973 | $1,355 | $1,839 |
| 72120 | $131 | $795 | $996 | $1,182 | $1,344 |
| 72199 | $110 | $162 | $248 | $334 | $386 |
| 72217 | $677 | $677 | $677 | $677 | $677 |
Source: Ownwell