Marshall, Arkansas Property Taxes
The median property tax rate in Marshall, AR is 0.64%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Marshall being $51,700, the typical annual property tax bill is $289, significantly below the national median of $2,690. Property taxes in Marshall are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Marshall'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 Marshall 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
Marshall, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$331
$307
Ownwell’s Marshall Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Marshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshall to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, scroll down to discover detailed neighborhood-level information. Your property’s assessed value, assigned by the county for property tax calculations, takes into account any applicable exemptions.
Property Tax Rates Across Marshall, Arkansas
Property taxes in Marshall, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshall is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Marshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshall 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 Marshall's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72650 has both the highest and lowest median property tax rate of 0.64%. Understanding how these cities compare with Marshall provides valuable insights into the varying tax landscape across Searcy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshall Tax Rate
0.64%
Average Stone County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshall, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72650 | 0.51% | 0.58% | 0.64% | 0.71% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Marshall, Arkansas
In Marshall, 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 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 Marshall, 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 Marshall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $289 in the 72650 zip code, while the lowest is also $289 in the same zip code.
Average Marshall Assessed Value
$51,700
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 Marshall, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72650 | $11,420 | $28,550 | $51,700 | $94,550 | $142,050 |
Source: Ownwell
Property Tax Bills Across Marshall, Arkansas
In Marshall, AR, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For homeowners in Marshall, the median home price is $51,700. Property tax bills can vary significantly, with the 25th percentile at $162 and the 75th percentile at $557. The 90th percentile reaches up to $892, indicating that higher-value properties incur higher tax bills. The highest median tax bill recorded in the area is $289, which is relatively low compared to the national median property tax rate of 0.99%. These property taxes fund essential public services like schools, emergency services, and infrastructure maintenance, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners manage their finances better and anticipate annual costs.
Average Marshall Tax Bill
$289
Average Stone County Tax Bill
$507
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshall, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72650 | $82 | $162 | $289 | $557 | $892 |
Source: Ownwell