Paron, Arkansas Property Taxes
The median property tax rate in Paron, AR is 0.88%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value in Paron at $309,412, the typical annual property tax bill reaches $2,642, just below the national median of $2,690. Property taxes in Paron are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Paron'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 Paron 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
Paron, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$2,723
$2,527
Ownwell’s Paron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paron 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 Paron, Arkansas
Property taxes in Paron, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paron is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Paron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paron 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 Paron's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72122 has both the highest and lowest median property tax rate of 0.88%, identical to Paron's rate. Understanding how these cities compare with Paron 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 Paron Tax Rate
0.88%
Average Pulaski County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paron, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72122 | 0.48% | 0.69% | 0.88% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Paron, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Paron, 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. Assessment notices in Paron 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 median home price in Paron is $309,412, with tax bills ranging from $1,230 at the 25th percentile to $4,924 at the 90th percentile. The highest and lowest median tax bills, both amounting to $2,642, are found in the 72122 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Paron Assessed Value
$309,412
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 Paron, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72122 | $67,282 | $189,691 | $309,412 | $425,549 | $557,560 |
Source: Ownwell
Property Tax Bills Across Paron, Arkansas
In Paron, located in Pulaski County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Paron can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $1,230, while at the 75th percentile, it reaches about $3,690. Those at the 90th percentile see bills as high as $4,924. These variations are influenced by factors such as property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Pulaski County’s rates can be relatively manageable, but they still impact homeowners' budgets. The highest and lowest median tax bills in Paron both stand at $2,642, which suggests a level of consistency within certain areas. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Paron Tax Bill
$2,642
Average Pulaski County Tax Bill
$1,457
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Paron, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72122 | $433 | $1,230 | $2,642 | $3,690 | $4,924 |
Source: Ownwell