Strawberry, Arkansas Property Taxes
The median property tax rate in Strawberry, Arkansas is 0.59%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Strawberry, the typical annual property tax bill reaches $506, well below the national median of $2,690. Property taxes in Strawberry 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 Strawberry'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 Strawberry or another part of Sharp County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Strawberry, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$561
$521
Ownwell’s Strawberry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Strawberry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Strawberry 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 Strawberry, Arkansas
Property taxes in Strawberry, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Strawberry is 0.59%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Strawberry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Strawberry 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. Understanding how Strawberry's effective property tax rate compares to other regions 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. For comparison, the zip code 72469 in Sharp County has the same median property tax rate of 0.59%. This consistency in tax rates within Sharp County can offer homeowners a sense of stability and predictability in their property tax obligations.
Average Strawberry Tax Rate
0.59%
Average Sharp County Tax Rate
0.61%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Strawberry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72469 | 0.45% | 0.52% | 0.59% | 0.71% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Strawberry, Arkansas
In Strawberry, 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 Assessor 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 Strawberry, 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 Strawberry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, in the 72469 zip code, the median tax bill is $506, which is both the highest and lowest median tax bill in the area. This provides a clear picture of what homeowners might expect in terms of property tax obligations.
Average Strawberry Assessed Value
$95,150
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 Strawberry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72469 | $23,380 | $50,100 | $95,150 | $142,000 | $236,160 |
Source: Ownwell
Property Tax Bills Across Strawberry, Arkansas
In Strawberry, AR, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The tax rate is applied to this assessed value to determine the tax bill. Various factors such as property improvements, market conditions, and neighborhood trends can influence the assessed value. For homeowners in Strawberry, the median home price is $95,150. The property tax rate in Sharp County is lower than the national median of 0.99%. Homeowners in this area can expect a tax bill ranging from $336 at the 25th percentile to $819 at the 75th percentile. The 90th percentile tax bill reaches up to $1,283. The highest and lowest median tax bills in the area are both $506, indicating a relatively consistent tax environment. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Strawberry Tax Bill
$506
Average Sharp County Tax Bill
$481
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Strawberry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72469 | $186 | $336 | $506 | $819 | $1,283 |
Source: Ownwell