Marshall, Arkansas Property Taxes
The median property tax rate in Marshall, AR is 0.76%, lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Marshall at $59,575, the typical annual property tax bill amounts to $476, significantly below the national median of $2,690. Property taxes in Marshall are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Marshall'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 Marshall 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
Marshall, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$453
Ownwell’s Marshall Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers aiming to estimate their annual property taxes in Marshall. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Marshall to provide an accurate estimate of your property tax bill. This tool is designed to help you understand your potential tax liabilities better. For those interested in more detailed insights, including trends at the neighborhood level, additional localized information is available. Your property's assessed value, determined by the county, serves as the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Marshall, Arkansas
Property taxes in Marshall, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshall is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Marshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshall 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 Marshall's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72650 has both the highest and lowest median property tax rate in the region, at 0.76%. Understanding how these cities compare with Marshall provides valuable insights into the varying tax landscape across Searcy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshall Tax Rate
0.76%
Average Searcy County Tax Rate
0.76%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshall, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72650 | 0.61% | 0.70% | 0.76% | 0.86% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Marshall, Arkansas
In Marshall, 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 local 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 Marshall 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. The median home price in Marshall is $59,575, with tax bills ranging from $258 at the 25th percentile to $1,221 at the 90th percentile. The zip code 72650 has the highest and lowest median tax bill of $476. Being aware of these valuation processes in Marshall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marshall Assessed Value
$59,575
Average Searcy County Assessed Value
$53,950
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshall, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72650 | $8,600 | $29,175 | $59,575 | $97,388 | $152,070 |
Source: Ownwell
Property Tax Bills Across Marshall, Arkansas
In Marshall, located in Searcy County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. For example, with a median home price of $59,575, the tax bill can vary significantly. Factors such as property improvements, location, and market trends influence the assessed value. Homeowners in Marshall can expect their property tax bills to range widely. The 25th percentile tax bill is about $258, while the 75th percentile tax bill reaches $774, and the 90th percentile can go up to $1,221. The highest and lowest median tax bills in the zip code 72650 both stand at $476. These property taxes are crucial for funding local services such as schools, road maintenance, and public safety. Compared to the national median property tax rate of 0.99%, homeowners in Marshall experience a relatively lower tax burden, making it a financially appealing option for property owners.
Average Marshall Tax Bill
$476
Average Searcy County Tax Bill
$434
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshall, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72650 | $124 | $258 | $476 | $774 | $1,221 |
Source: Ownwell