Wheatley, Arkansas Property Taxes
The median property tax rate in Wheatley, AR is 0.98%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Wheatley at $45,725, the typical annual property tax bill amounts to $434, which is significantly lower than the national median of $2,690. Property taxes in Wheatley are calculated based on the assessed value, often less than the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Wheatley's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wheatley or another part of St. Francis County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wheatley, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$448
Ownwell’s Wheatley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheatley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheatley 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 Wheatley, Arkansas
Property taxes in Wheatley, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheatley is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Wheatley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheatley 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 Wheatley's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72392 has both the highest and lowest median property tax rate of 0.98%. Understanding how these cities compare with Wheatley 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 Wheatley Tax Rate
0.98%
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 Wheatley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72392 | 0.63% | 0.88% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Wheatley, Arkansas
In Wheatley, 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's Office 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. 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 Wheatley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Wheatley are both $434, found in the 72392 zip code.
Average Wheatley Assessed Value
$45,725
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 Wheatley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72392 | $13,690 | $28,438 | $45,725 | $101,400 | $146,505 |
Source: Ownwell
Property Tax Bills Across Wheatley, Arkansas
In Wheatley, St. Francis County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Wheatley is $45,725. Tax rates in this area can vary, but the national median property tax rate is 0.99%. Homeowners in Wheatley typically see tax bills ranging from $268 at the 25th percentile to $870 at the 75th percentile, with the 90th percentile reaching up to $1,381. The highest and lowest median tax bills in the area are both $434, found in the 72392 zip code. These tax bills directly impact homeowners by influencing their annual housing costs and potentially affecting their ability to budget for other expenses. Understanding how these factors interplay can help homeowners better anticipate their financial obligations and make informed decisions about property ownership in Wheatley.
Average Wheatley Tax Bill
$434
Average St. Francis County Tax Bill
$344
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheatley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72392 | $113 | $268 | $434 | $870 | $1,381 |
Source: Ownwell