Lincoln, Arkansas Property Taxes
The median property tax rate in Lincoln, Arkansas is 0.51%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Lincoln at $169,100, the typical annual property tax bill reaches $840, significantly below the national median of $2,690. Property taxes in Lincoln 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 Lincoln'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 Lincoln 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
Lincoln, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Lincoln Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lincoln. With just two data points—your property's estimated assessed value and the city’s median tax rate—the calculator provides an accurate estimate of your property tax bill. This tool offers crucial insights into your potential tax liabilities, helping you make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value, determined by the county, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Lincoln, Arkansas
Property taxes in Lincoln, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln is 0.51%, significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Lincoln set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincoln 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. Understanding how Lincoln's tax rate compares with other areas in Washington County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincoln Tax Rate
0.51%
Average Washington County Tax Rate
0.60%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72744 | 0.20% | 0.35% | 0.51% | 0.72% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln, Arkansas
In Lincoln, 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 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 Lincoln, 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 Lincoln helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72744 has both the highest and lowest median tax bill at $840.
Average Lincoln Assessed Value
$169,100
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 Lincoln, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72744 | $66,550 | $108,962 | $169,100 | $246,488 | $355,600 |
Source: Ownwell
Property Tax Bills Across Lincoln, Arkansas
In Lincoln, Washington County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value of the property, and this figure is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Lincoln experience a range of property tax bills. For instance, the 25th percentile tax bill is $478, while the 75th percentile reaches $1419. At the 90th percentile, homeowners can expect to pay up to $2248. The median home price in Lincoln is $169,100, which provides a benchmark for understanding these tax bills. Compared to the national median property tax rate of 0.99%, Lincoln's property tax rates offer a relatively affordable option for homeowners, making it a financially attractive place to own property.
Average Lincoln Tax Bill
$840
Average Washington County Tax Bill
$1,659
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72744 | $221 | $478 | $840 | $1,419 | $2,248 |
Source: Ownwell