Brinkley, Arkansas Property Taxes
The median property tax rate in Brinkley, AR is 0.88%, slightly below the national median of 0.99% but above the Arkansas state median of 0.84%. With a median home value of $45,600 in Brinkley, the typical annual property tax bill is $401, which is significantly lower than the national median of $2,690. Property taxes in Brinkley are calculated based on the tax assessed value, which usually falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Brinkley'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 Brinkley 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
Brinkley, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$401
$372
Ownwell’s Brinkley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brinkley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brinkley 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 Brinkley, Arkansas
Property taxes in Brinkley, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brinkley is 0.88%, which is below the U.S. national median of 0.99%. Local government entities within Brinkley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brinkley 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 Brinkley's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72021 in St. Francis County has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Brinkley provides valuable insights into the varying tax landscape across St. Francis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brinkley Tax Rate
0.88%
Average St. Francis County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brinkley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72021 | 0.69% | 0.88% | 0.88% | 0.88% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Brinkley, Arkansas
In Brinkley, 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 St. Francis 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 Brinkley, 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 Brinkley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72021, with a median tax bill of $401.
Average Brinkley Assessed Value
$45,600
Average St. Francis County Assessed Value
$48,600
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brinkley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72021 | $25,870 | $33,550 | $45,600 | $66,400 | $83,320 |
Source: Ownwell
Property Tax Bills Across Brinkley, Arkansas
In Brinkley, property tax bills are calculated based on the assessed value of the property, which is a fraction of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the tax bill include the property's location within St. Francis County, its assessed value, and applicable exemptions or deductions. For homeowners in Brinkley, the median home price is $45,600. The tax bill can vary significantly, with the 25th percentile at $217 and the 75th percentile at $584. At the 90th percentile, it reaches $733, indicating a range of tax burdens depending on property values and other considerations. The highest and lowest median tax bills in the area both stand at $401, which is below the national median property tax rate of 0.99%. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations and plan accordingly, ensuring they are well-prepared for their financial responsibilities.
Average Brinkley Tax Bill
$401
Average St. Francis County Tax Bill
$344
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Brinkley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72021 | $155 | $217 | $401 | $584 | $733 |
Source: Ownwell