Greenland, Arkansas Property Taxes
The median property tax rate in Greenland, Arkansas is 0.57%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $217,075 in Greenland, the typical annual property tax bill amounts to $956, which is well below the national median of $2,690. Property taxes in Greenland are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Greenland'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 Greenland or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenland, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,237
$1,148
Ownwell’s Greenland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenland 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 Greenland, Arkansas
Property taxes in Greenland, Arkansas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenland is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Greenland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenland 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 Greenland's effective property tax rate to other regions in Arkansas and the national median. For comparison, the zip code 72737 has the highest and lowest median property tax rate of 0.57%. Understanding how these areas compare with Greenland provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenland Tax Rate
0.57%
Average Washington County Tax Rate
0.60%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenland, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72737 | 0.28% | 0.40% | 0.57% | 0.66% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Greenland, Arkansas
In Greenland, 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 Washington 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 Greenland, 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. For example, homeowners in the zip code 72737 face a median tax bill of $956. 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 Greenland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenland Assessed Value
$217,075
Average Washington County Assessed Value
$274,150
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenland, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72737 | $61,465 | $109,838 | $217,075 | $312,912 | $411,630 |
Source: Ownwell
Property Tax Bills Across Greenland, Arkansas
In Greenland, Washington County, AR, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Greenland is $217,075. Property tax rates are applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the home's market value, the local tax rate, and any applicable exemptions or deductions. Homeowners in Greenland can expect their property tax bills to vary significantly. For example, the tax bill at the 25th percentile is $535, while at the 75th percentile, it rises to $1,705. The 90th percentile tax bill can reach up to $3,071, reflecting the impact of higher property values or fewer exemptions. The highest median tax bill in the region is $956, which is relatively low compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets effectively.
Average Greenland Tax Bill
$956
Average Washington County Tax Bill
$1,659
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenland, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72737 | $366 | $535 | $956 | $1,705 | $3,071 |
Source: Ownwell