Poughkeepsie, Arkansas Property Taxes
The median property tax rate in Poughkeepsie, AR is 0.66%, which is significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $66,950 in Poughkeepsie, the typical annual property tax bill amounts to $377, far below the national median of $2,690. Property taxes in Poughkeepsie are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Poughkeepsie’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Poughkeepsie or another part of Sharp County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Poughkeepsie, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$442
Ownwell’s Poughkeepsie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Poughkeepsie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Poughkeepsie 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 Poughkeepsie, Arkansas
Property taxes in Poughkeepsie, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Poughkeepsie is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Poughkeepsie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Poughkeepsie 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 Poughkeepsie's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72569 has both the highest and lowest median property tax rate of 0.66%. Understanding how these zip codes compare with Poughkeepsie provides valuable insights into the varying tax landscape across Sharp County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Poughkeepsie Tax Rate
0.66%
Average Sharp County Tax Rate
0.61%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Poughkeepsie, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72569 | 0.43% | 0.53% | 0.66% | 0.78% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Poughkeepsie, Arkansas
In Poughkeepsie, 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 Sharp 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 Poughkeepsie, 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. For instance, the zip code 72569 has both the highest and lowest median tax bill at $377. Being aware of these valuation processes in Poughkeepsie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Poughkeepsie Assessed Value
$66,950
Average Sharp County Assessed Value
$83,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Poughkeepsie, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72569 | $13,550 | $28,225 | $66,950 | $122,450 | $181,900 |
Source: Ownwell
Property Tax Bills Across Poughkeepsie, Arkansas
In Poughkeepsie, property tax bills are calculated by multiplying the assessed value of a home by the local property tax rate. The assessed value is determined by the county assessor and reflects a percentage of the market value of the property. Several factors influence this assessment, including the property's location, size, and condition. Homeowners in Poughkeepsie experience a range of tax bills. The 25th percentile tax bill is around $197, while the 75th percentile tax bill reaches $717. At the higher end, the 90th percentile tax bill can be as much as $999. These figures highlight the variability in property tax burdens across different properties within the city. Compared to the national median property tax rate of 0.99%, Poughkeepsie's tax rates can be considered relatively moderate. This tax burden impacts homeowners by influencing their overall housing costs and can affect decisions related to buying or selling property. Understanding these factors is crucial for homeowners to manage their finances effectively and plan for future expenses.
Average Poughkeepsie Tax Bill
$377
Average Sharp County Tax Bill
$481
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Poughkeepsie, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72569 | $98 | $197 | $377 | $717 | $999 |
Source: Ownwell