Western Grove, Arkansas Property Taxes
The median property tax rate in Western Grove, AR is 0.70%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $78,800 in Western Grove, the typical annual property tax bill amounts to $522, significantly below the national median of $2,690. Property taxes in Western Grove are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Western Grove'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 Western Grove or another part of Searcy County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Western Grove, 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 Western Grove Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Western Grove. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Western Grove to provide an accurate estimate of your property tax bill. This tool is designed to help you understand your potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, plays a crucial role in these calculations and takes into account any applicable exemptions.
Property Tax Rates Across Western Grove, Arkansas
Property taxes in Western Grove, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Western Grove is 0.70%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Western Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Western Grove 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 Western Grove's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72685 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Western Grove 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 Western Grove Tax Rate
0.70%
Average Searcy County Tax Rate
0.76%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Western Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72685 | 0.52% | 0.63% | 0.70% | 0.79% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Western Grove, Arkansas
In Western Grove, 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 Searcy 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 Western Grove, 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 Western Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72685 has the highest median tax bill at $522, while also having the lowest median tax bill at $522.
Average Western Grove Assessed Value
$78,800
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 Western Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72685 | $14,515 | $31,888 | $78,800 | $110,700 | $132,875 |
Source: Ownwell
Property Tax Bills Across Western Grove, Arkansas
In Western Grove, located in Searcy County, AR, property tax bills are calculated based on the assessed value of properties. The assessed value is a percentage of the market value of the home, which is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $78,800, homeowners can expect a tax bill within a range, with the 25th percentile at $245 and the 75th percentile reaching up to $757. The tax bill can go as high as $976 for the 90th percentile of homes. Factors such as property size, location, and home improvements can influence the assessed value, subsequently affecting the tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Western Grove benefit from relatively lower property taxes. This lower tax burden can make homeownership more affordable, but it's essential for homeowners to stay informed about their property’s assessed value and any changes in local tax rates that could impact their annual tax bill.
Average Western Grove Tax Bill
$522
Average Searcy County Tax Bill
$434
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Western Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72685 | $178 | $245 | $522 | $757 | $976 |
Source: Ownwell