Cherokee Village, Sharp County, Arkansas Property Taxes
Median Cherokee Village, AR effective property tax rate: 0.58%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Cherokee Village, AR home value: $89,500
Median annual Cherokee Village, AR tax bill: $514, $1,886 lower than the national median property tax bill of $2,400.
How are property taxes in Sharp County calculated?
Property taxes in Cherokee Village, AR are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Cherokee Village’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cherokee Village, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cherokee Village, Sharp County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.58%
Estimate Property Tax Bill
$519
$482
Property Tax Rates Across Cherokee Village, Sharp County, Arkansas
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates the budget required to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although the process involves votes and laws, this is essentially how it works each year.
Cherokee Village in Sharp County, Arkansas, has an effective property tax rate that you can compare to other cities in Arkansas and the median property tax rates in Arkansas and the U.S. The property tax rate in Cherokee Village is notably below the national median of 1.02%, reflecting the state's generally lower property tax burden. This makes Arkansas an attractive option for property owners seeking lower tax liabilities, particularly when compared to states with higher rates. Understanding these local tax rates can help property owners make informed decisions about their investments and potential savings.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Cherokee Village Tax Rate
0.58%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Sharp County Tax Rate
0.61%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cherokee Village, Sharp County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72529 | 0.44% | 0.50% | 0.58% | 0.67% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Cherokee Village, Sharp County, Arkansas
When examining property taxes in Cherokee Village, Arkansas, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Sharp County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Sharp County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Cherokee Village.
For example, the median home price in Cherokee Village is $89,500, with tax bills ranging significantly across the county. Zip code 72529 has the highest median home price at $89,525.
Property Tax Assessment Values Across Cherokee Village, Sharp County, Arkansas
Source: Ownwell
$55,400
$77,550
$99,700
Median Cherokee Village Market Value
$89,500
Median Sharp County Market Value
$83,700
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cherokee Village, Sharp County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72529 | $54,050 | $68,400 | $89,525 | $138,112 | $268,625 |
Source: Ownwell
Property Tax Bills Across Cherokee Village, Sharp County, Arkansas
In Cherokee Village, located in Sharp County, AR, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to determine the tax bill. Factors such as the property's location, size, and any improvements can influence this assessed value. Homeowners in Cherokee Village typically see a median tax bill of $514, which is significantly lower than the national median of $2400. However, tax bills can vary, with some homeowners paying as little as $386 and others as much as $1575, depending on their property's specific characteristics.
Ownwell can assist homeowners in Cherokee Village by ensuring their assessed property value is accurate and fair, potentially reducing their tax burden. By leveraging expertise in local tax regulations and providing personalized assessments, Ownwell can help identify opportunities for appeals or exemptions, ultimately saving homeowners money on their property tax bills.
Median Cherokee Village Tax Bill
$514
Median Sharp County Tax Bill
$481
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Cherokee Village, Sharp County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72529 | $305 | $386 | $514 | $805 | $1,575 |
Source: Ownwell