Sulphur Rock, Arkansas Property Taxes
The median property tax rate in Sulphur Rock, Arkansas is 0.64%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Sulphur Rock at $90,700, the typical annual property tax bill reaches $653, significantly below the national median of $2,690. Property taxes in Sulphur Rock 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 Sulphur Rock'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 Sulphur Rock 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
Sulphur Rock, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$580
$539
Ownwell’s Sulphur Rock Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sulphur Rock with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Sulphur Rock to provide an estimate of your property tax bill. This valuable tool allows you to comprehend potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. The assessed value of your property is determined by the county for tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Sulphur Rock, Arkansas
Property taxes in Sulphur Rock, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sulphur Rock is 0.64%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Sulphur Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sulphur Rock 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 Sulphur Rock's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72579 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these areas compare with Sulphur Rock 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 Sulphur Rock Tax Rate
0.64%
Average Sharp County Tax Rate
0.61%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sulphur Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72579 | 0.51% | 0.56% | 0.64% | 0.81% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Sulphur Rock, Arkansas
In Sulphur Rock, 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 Sulphur Rock, 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 Sulphur Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $653 in the 72579 zip code, while the lowest median tax bill is also $653 in the same zip code.
Average Sulphur Rock Assessed Value
$90,700
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 Sulphur Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72579 | $23,330 | $44,812 | $90,700 | $156,375 | $238,110 |
Source: Ownwell
Property Tax Bills Across Sulphur Rock, Arkansas
In Sulphur Rock, property tax bills are calculated based on the assessed value of your home, which is typically a percentage of its market value. For instance, if the median home price is $90,700, the assessed value might be a fraction of this amount, determined by local regulations. The tax rate is then applied to this assessed value to calculate the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Sulphur Rock, the tax bills can vary widely; the 25th percentile tax bill is around $220, while the 75th percentile reaches $931, and the 90th percentile can be as high as $1,777. This variance highlights how different factors can significantly impact what homeowners owe. Compared to the national median property tax rate of 0.99%, Sulphur Rock's property taxes can be seen as relatively moderate, depending on the specific assessed value and exemptions applied. Homeowners need to be aware of these factors to better anticipate their annual property tax obligations.
Average Sulphur Rock Tax Bill
$653
Average Sharp County Tax Bill
$481
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Sulphur Rock, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72579 | $171 | $220 | $653 | $931 | $1,777 |
Source: Ownwell