Yellville, Arkansas Property Taxes
The median property tax rate in Yellville, AR is 0.75%, lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Yellville, the typical annual property tax bill is $414, significantly below the national median of $2,690. Property taxes in Yellville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yellville'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 Yellville 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
Yellville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$349
$324
Ownwell’s Yellville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yellville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yellville 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 Yellville, Arkansas
Property taxes in Yellville, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yellville is 0.52%, which is lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Yellville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yellville 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 Yellville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in Arkansas is 0.61%, while the lowest median tax rate is 0.52%. Understanding how these cities compare with Yellville provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yellville Tax Rate
0.75%
Average Searcy County Tax Rate
0.76%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yellville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72687 | 0.67% | 0.70% | 0.75% | 0.82% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Yellville, Arkansas
In Yellville, 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 Assessor's Office 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 Yellville, 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 Yellville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $414.00, found in the 72687 zip code.
Average Yellville Assessed Value
$46,500
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 Yellville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72687 | $38,020 | $41,200 | $46,500 | $74,550 | $91,380 |
Source: Ownwell
Property Tax Bills Across Yellville, Arkansas
In Yellville, located in Marion County, AR, property tax bills are calculated based on the assessed value of a home, which is a fraction of its market value. The median home price in Yellville is $46,500. To determine the tax bill, local authorities multiply the assessed value by the property tax rate. Several factors influence this calculation, including the property's location, size, and any applicable exemptions or deductions. For homeowners, the impact of property taxes can vary. In Yellville, the tax bill at the 25th percentile is $341, while at the 75th percentile, it rises to $540. The 90th percentile tax bill reaches $615. These figures show that homeowners in Yellville generally face lower property taxes compared to the national median property tax rate of 0.99%. Understanding how these taxes are calculated can help homeowners budget effectively and take advantage of any available exemptions to lower their tax burden.
Average Yellville Tax Bill
$414
Average Searcy County Tax Bill
$434
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Yellville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72687 | $297 | $341 | $414 | $540 | $615 |
Source: Ownwell