Georgetown, Arkansas Property Taxes
The median property tax rate in Georgetown, AR is 0.60%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Georgetown, the typical annual property tax bill is $150, far below the national median of $2,690. Property taxes in Georgetown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Georgetown'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 Georgetown 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
Georgetown, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$134
Ownwell’s Georgetown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Georgetown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Georgetown 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 Georgetown, Arkansas
Property taxes in Georgetown, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Georgetown is 0.60%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Georgetown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Georgetown 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 Georgetown's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72143 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Georgetown provides valuable insights into the varying tax landscape across White County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Georgetown Tax Rate
0.60%
Average White County Tax Rate
0.81%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Georgetown, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72143 | 0.32% | 0.45% | 0.60% | 0.80% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Georgetown, Arkansas
In Georgetown, 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 White 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 Georgetown, 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. Georgetown's highest median tax bill is $150 in zip code 72143, while the lowest is also $150 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Georgetown Assessed Value
$22,300
Average White County Assessed Value
$81,100
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Georgetown, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72143 | $7,000 | $8,450 | $22,300 | $41,250 | $69,050 |
Source: Ownwell
Property Tax Bills Across Georgetown, Arkansas
In Georgetown, White County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The assessed value is determined by the county assessor and is then multiplied by the local tax rate, which varies by jurisdiction. For homeowners in Georgetown, the median home price is $22,300. Property tax bills can range significantly, with the 25th percentile at $38 and the 75th percentile reaching $310, while the 90th percentile can go up to $421. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and the specific tax rate in the area. For example, the highest median tax bill in the county is $150, which is significantly lower than the national median property tax rate of 0.99%. This relatively low property tax burden can make homeownership more affordable in Georgetown, affecting homeowners by keeping their annual costs down compared to other regions.
Average Georgetown Tax Bill
$150
Average White County Tax Bill
$632
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Georgetown, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72143 | $22 | $38 | $150 | $310 | $421 |
Source: Ownwell