Fox, Arkansas Property Taxes
The median property tax rate in FOX, AR is 0.65%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in FOX at $63,950, the typical annual property tax bill reaches $397, significantly below the national median of $2,690. Property taxes in FOX 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 FOX'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 FOX 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
Fox, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$416
$386
Ownwell’s FOX Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FOX with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FOX 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 Fox, Arkansas
Property taxes in FOX, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in FOX is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within FOX set these rates annually, and they can vary significantly across different neighborhoods. Each year, FOX 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 FOX's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72051 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with FOX provides valuable insights into the varying tax landscape across Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fox Tax Rate
0.65%
Average Stone County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fox, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72051 | 0.48% | 0.56% | 0.65% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Fox, Arkansas
In FOX, 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 Stone 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 FOX, 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 FOX helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in FOX is $63,950, with tax bills ranging from $227 at the 25th percentile to $1,012 at the 90th percentile. The highest median tax bill is $397 in the 72051 zip code.
Average Fox Assessed Value
$63,950
Average Stone County Assessed Value
$77,600
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fox, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72051 | $16,850 | $33,550 | $63,950 | $98,150 | $163,200 |
Source: Ownwell
Property Tax Bills Across Fox, Arkansas
In FOX, located in Stone County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in FOX typically see property tax bills that vary significantly, reflecting the diverse range of property values in the area. The median home price in FOX is $63,950, and tax bills range from the 25th percentile at $227 to the 90th percentile at $1,012. The highest median tax bill in the region is $397, found in the 72051 ZIP code. Several factors influence the tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions. These elements combined determine the final amount homeowners owe. For homeowners, understanding these factors is crucial as they directly impact annual expenses. Compared to the national median property tax rate of 0.99%, FOX’s property tax rates provide a relatively affordable option for residents, ensuring that property taxes remain manageable for most homeowners.
Average Fox Tax Bill
$397
Average Stone County Tax Bill
$507
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Fox, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72051 | $141 | $227 | $397 | $630 | $1,012 |
Source: Ownwell