Shirley, Arkansas Property Taxes
The median property tax rate in Shirley, AR is 0.63%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Shirley at $61,250, the typical annual property tax bill is $357, significantly below the national median of $2,690. Property taxes in Shirley are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shirley'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 Shirley or another part of Stone County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shirley, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$386
Ownwell’s Shirley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shirley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shirley 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 Shirley, Arkansas
Property taxes in Shirley, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shirley is 0.63%, significantly lower than the U.S. national median of 0.99%. Local government entities within Shirley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shirley 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 Shirley's effective property tax rate to other areas in Arkansas and the national median. For comparison, the 72153 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Shirley 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 Shirley Tax Rate
0.63%
Average Stone County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shirley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72153 | 0.49% | 0.57% | 0.63% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Shirley, Arkansas
In Shirley, 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 Shirley, 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. The median home price in Shirley is $61,250. The median tax bill in the 25th percentile is $169, while in the 75th percentile, it is $554. The highest and lowest median tax bill both occur in the zip code 72153, amounting to $357. Being aware of these valuation processes in Shirley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Shirley Assessed Value
$61,250
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 Shirley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72153 | $6,290 | $28,112 | $61,250 | $95,025 | $137,645 |
Source: Ownwell
Property Tax Bills Across Shirley, Arkansas
In Shirley, located in Stone 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 is a percentage of the home's market value. Homeowners in Shirley typically see their property tax bills influenced by various factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Shirley is $61,250. Homeowners at the 25th percentile pay around $169 in property taxes, while those at the 75th percentile pay approximately $554. At the 90th percentile, the tax bill can reach up to $904. The median property tax bill in the area is $357, which is significantly lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make Shirley an attractive place for homeowners, offering affordability and financial relief compared to other regions.
Average Shirley Tax Bill
$357
Average Stone County Tax Bill
$507
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Shirley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72153 | $68 | $169 | $357 | $554 | $904 |
Source: Ownwell