Paron, Arkansas Property Taxes
The median property tax rate in Paron, AR is 0.74%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Paron at $83,435, the typical annual property tax bill amounts to $563, significantly below the national median of $2,690. Property taxes in Paron are determined based on the tax assessed value, which is usually less than the market value due to various exemptions, including primary residence and agricultural exemptions. Grasping Paron's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you reside in the heart of Paron or another part of Saline County, understanding the local property tax system is advantageous for 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
0.74%
Estimate Property Tax Bill
$617
$573
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 0.74%, 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 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 0.74%. Understanding how these cities compare with Paron provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paron Tax Rate
0.74%
Average Saline County Tax Rate
0.83%
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 | 0.55% | 0.63% | 0.74% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Paron, Arkansas
In Paron, 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 Saline 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 Paron, 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 Paron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72122 records both the highest and lowest median tax bill at $563.
Average Paron Assessed Value
$83,435
Average Saline County Assessed Value
$164,560
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 | $12,883 | $31,585 | $83,435 | $187,748 | $268,751 |
Source: Ownwell
Property Tax Bills Across Paron, Arkansas
Property tax bills in Paron, Saline County, AR, are determined by the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the tax rate to calculate the tax bill. In Paron, the median home price is $83,435, and the tax rate is relatively low compared to the national median property tax rate of 0.99%. Homeowners in Paron can expect a wide range of tax bills. The 25th percentile tax bill is $239, while the 75th percentile tax bill is $1,317. At the 90th percentile, the tax bill can reach up to $1,917. This variation depends on factors such as property value, location within the county, and applicable exemptions. For instance, the highest median tax bill in the area is $563, found in the 72122 zip code. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Paron Tax Bill
$563
Average Saline County Tax Bill
$1,361
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 | $98 | $239 | $563 | $1,317 | $1,917 |
Source: Ownwell