Griffithville, Arkansas Property Taxes
The median property tax rate in Griffithville, AR is 0.80%, slightly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Griffithville, the typical annual property tax bill reaches $370, which is significantly below the national median of $2,690. Property taxes in Griffithville 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 Griffithville'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 Griffithville or another part of White County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Griffithville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$385
$357
Ownwell’s Griffithville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Griffithville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Griffithville 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 Griffithville, Arkansas
Property taxes in Griffithville, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Griffithville is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Griffithville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Griffithville 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 Griffithville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72060 has both the highest and lowest median property tax rate of 0.80%. Understanding how these cities compare with Griffithville 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 Griffithville Tax Rate
0.80%
Average White County Tax Rate
0.81%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Griffithville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72060 | 0.55% | 0.70% | 0.80% | 0.80% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Griffithville, Arkansas
In Griffithville, 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 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 Griffithville, 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 instance, the median home price in Griffithville is $48,150, with tax bills ranging from $184 at the 25th percentile to $1,213 at the 90th percentile. The highest and lowest median tax bills are both $370 in zip code 72060. By understanding 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 Griffithville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Griffithville Assessed Value
$48,150
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 Griffithville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72060 | $7,800 | $24,500 | $48,150 | $86,850 | $151,800 |
Source: Ownwell
Property Tax Bills Across Griffithville, Arkansas
In Griffithville, White County, AR, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor's office and is a percentage of the property's market value. For example, with a median home price of $48,150, the assessed value forms the basis for the tax calculation. Various factors such as property size, location, and improvements are considered in this assessment. Homeowners in Griffithville can expect their property tax bills to vary. At the 25th percentile, the tax bill is approximately $184, while at the 75th percentile, it rises to around $662. Those at the 90th percentile face a tax bill of about $1,213. The highest median tax bill in the area is $370, which is consistent across the zip code 72060. These property taxes fund essential local services like schools, public safety, and infrastructure, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Griffithville's rates offer a relatively affordable tax burden for homeowners.
Average Griffithville Tax Bill
$370
Average White County Tax Bill
$632
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Griffithville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72060 | $74 | $184 | $370 | $662 | $1,213 |
Source: Ownwell