Jerusalem, Arkansas Property Taxes
The median property tax rate in Jerusalem, Arkansas is 0.88%, which is lower than the national median of 0.99% but slightly higher than the Arkansas state median of 0.84%. With a median home value of $52,525 in Jerusalem, the typical annual property tax bill is $463, well below the national median of $2,690. Property taxes in Jerusalem are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jerusalem'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 Jerusalem or another part of Van Buren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jerusalem, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$462
$429
Ownwell’s Jerusalem Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jerusalem with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jerusalem 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 Jerusalem, Arkansas
Property taxes in Jerusalem, Arkansas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jerusalem is 0.88%, which is below the U.S. national median of 0.99%. Local government entities within Jerusalem set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jerusalem 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 Jerusalem's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72080 zip code has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Jerusalem provides valuable insights into the varying tax landscape across Van Buren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jerusalem Tax Rate
0.88%
Average Van Buren County Tax Rate
0.88%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jerusalem, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72080 | 0.72% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Jerusalem, Arkansas
In Jerusalem, 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 Van Buren 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. 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. In Jerusalem, the median home price is $52,525, with tax bills ranging from $251 at the 25th percentile to $1,120 at the 90th percentile. The highest and lowest median tax bills are both $463 in the 72080 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jerusalem Assessed Value
$52,525
Average Van Buren County Assessed Value
$61,550
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jerusalem, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72080 | $15,200 | $28,538 | $52,525 | $82,525 | $135,975 |
Source: Ownwell
Property Tax Bills Across Jerusalem, Arkansas
Property tax bills in Jerusalem, located in Van Buren County, AR, are determined by several key factors. The assessed value of a property is a primary component, which is derived from the market value of the home. For instance, with a median home price of $52,525, the assessed value is a fraction of this market price. The local tax rate is then applied to this assessed value to calculate the property tax bill. In Jerusalem, property tax bills can vary significantly. For example, homeowners in the 25th percentile pay around $251, while those in the 75th percentile face bills closer to $721. At the 90th percentile, tax bills can reach up to $1,120. The highest and lowest median tax bills in the area both stand at $463, indicating a relatively consistent rate within the zip code 72080. These property taxes play a crucial role in funding local services and infrastructure, directly impacting homeowners by contributing to community development and public amenities.
Average Jerusalem Tax Bill
$463
Average Van Buren County Tax Bill
$534
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Jerusalem, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72080 | $136 | $251 | $463 | $721 | $1,120 |
Source: Ownwell