Forrest City, Arkansas Property Taxes
The median property tax rate in Forrest City, AR is 0.74%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $46,750 in Forrest City, the typical annual property tax bill amounts to $325, significantly below the national median of $2,690. Property taxes in Forrest City are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Forrest City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to notable annual savings. Whether you reside in the heart of Forrest City or another part of St. Francis County, familiarizing yourself with the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forrest City, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$346
$321
Ownwell’s Forrest City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forrest City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forrest City 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 Forrest City, Arkansas
Property taxes in Forrest City, Arkansas, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Forrest City is 0.74%, which is higher than the national median of 0.99%. Local government entities within Forrest City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forrest City 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 Forrest City's effective property tax rate to other areas in St. Francis County and the national median. For comparison, the 72335 zip code has the highest median property tax rate of 0.74%, while the 72336 zip code has the lowest median tax rate of 0.63%. Understanding how these cities compare with Forrest City 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 Forrest City Tax Rate
0.74%
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 Forrest City, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72335 | 0.56% | 0.67% | 0.74% | 0.80% | 0.93% |
| 72336 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Forrest City, Arkansas
In Forrest City, 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 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 Forrest City, 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. Notably, the zip code with the highest median tax bill is 72335 at $325, whereas the lowest median tax bill is in zip code 72336 at $147. 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 Forrest City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Forrest City Assessed Value
$46,750
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 Forrest City, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72335 | $11,800 | $24,400 | $46,750 | $88,812 | $142,900 |
| 72336 | $23,400 | $23,400 | $23,400 | $23,400 | $23,400 |
Source: Ownwell
Property Tax Bills Across Forrest City, Arkansas
In Forrest City, property tax bills are calculated based on the assessed value of the property, which is determined by the St. Francis County Assessor's office. The assessed value is typically a percentage of the property's market value. Homeowners in Forrest City experience a range of property tax bills, influenced by factors such as the property's location, size, and condition. For instance, the median home price in Forrest City is $46,750, and property tax bills can vary significantly within the city. The 25th percentile tax bill is $168, while the 75th percentile tax bill is $664. At the 90th percentile, homeowners might pay up to $1,085. The highest median tax bill in the area is $325, found in zip code 72335, whereas the lowest median tax bill is $147 in zip code 72336. These variations affect homeowners differently, with some paying below the national median property tax rate of 0.99%, making Forrest City an attractive location for those seeking lower property tax obligations.
Average Forrest City Tax Bill
$325
Average St. Francis County Tax Bill
$344
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Forrest City, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72335 | $84 | $168 | $325 | $664 | $1,086 |
| 72336 | $147 | $147 | $147 | $147 | $147 |
Source: Ownwell