Proctor, Arkansas Property Taxes
The median property tax rate in Proctor, Arkansas is 0.75%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $21,500 in Proctor, the typical annual property tax bill amounts to $158, significantly under the national median of $2,690. Property taxes in Proctor are determined based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural land. By getting acquainted with Proctor's property tax system, exploring available exemptions, and pinpointing opportunities for reductions, homeowners can achieve substantial annual savings. Whether residing in Proctor or elsewhere in St. Francis County, a thorough understanding of the local property tax framework is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Proctor, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$161
Ownwell’s Proctor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Proctor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Proctor 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 Proctor, Arkansas
Property taxes in Proctor, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Proctor is 0.75%, lower than the U.S. national median of 0.99%. Local government entities within Proctor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Proctor 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 Proctor's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72376 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these areas compare with Proctor 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 Proctor Tax Rate
0.75%
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 Proctor, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72376 | 0.47% | 0.55% | 0.75% | 0.82% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Proctor, Arkansas
In Proctor, 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 Proctor, 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. For instance, the highest median tax bill in Proctor is $158 in the 72376 zip code, while the lowest median tax bill is also $158 in the same zip code. 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 Proctor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Proctor Assessed Value
$21,500
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 Proctor, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72376 | $9,700 | $13,300 | $21,500 | $45,225 | $73,125 |
Source: Ownwell
Property Tax Bills Across Proctor, Arkansas
In Proctor, St. Francis County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically represents a percentage of the market value of the property. For example, with a median home price of $21,500, homeowners can expect their tax bill to vary significantly. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Proctor can see tax bills ranging from $99 at the 25th percentile to $481 at the 90th percentile. The highest median tax bill in the area is $158, which is relatively low compared to the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. While the tax rates in Proctor are modest, they still represent a crucial financial consideration for homeowners, impacting their annual budgeting and overall cost of living.
Average Proctor Tax Bill
$158
Average St. Francis County Tax Bill
$344
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Proctor, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72376 | $52 | $99 | $158 | $302 | $481 |
Source: Ownwell