Mc Rae, White County, Arkansas Property Taxes
The median property tax rate in Mc Rae, AR is 0.81%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $57,250 in Mc Rae, the typical annual property tax bill amounts to $399, significantly below the national median of $2,690. Property taxes in Mc Rae 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 Mc Rae'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 Mc Rae or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Rae, White County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$464
$430
Ownwell’s McRae Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McRae with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McRae 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 Mc Rae, White County, Arkansas
Property taxes in Mc Rae, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Rae is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Mc Rae set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Rae 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 Mc Rae's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72102 has both the highest and lowest median property tax rate at 0.81%. Understanding how these cities compare with Mc Rae 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 Mc Rae Tax Rate
0.81%
Average White County Tax Rate
0.81%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Rae, White County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72102 | 0.44% | 0.63% | 0.81% | 0.81% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Mc Rae, White County, Arkansas
In Mc Rae, 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 Mc Rae, 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 Mc Rae helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mc Rae is $57,250, with tax bills ranging from $194 at the 25th percentile to $1,365 at the 90th percentile. The zip code 72102 has both the highest and lowest median tax bill at $399.
Property Tax Assessment Values Across Mc Rae, White County, Arkansas
Source: Ownwell
$18,000
$65,213
$112,425
Average Mc Rae Assessed Value
$57,250
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 Mc Rae, White County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72102 | $9,520 | $26,550 | $57,250 | $106,250 | $186,520 |
Source: Ownwell
Property Tax Bills Across Mc Rae, White County, Arkansas
In Mc Rae, located in White County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Mc Rae is $57,250. Property taxes are then determined by applying the local tax rate to this assessed value. Various factors, including property size, location, and improvements, influence the assessed value, and subsequently, the tax bill. For homeowners in Mc Rae, the tax bill can vary significantly. At the 25th percentile, the tax bill is around $194, while at the 75th percentile, it rises to $772. For those at the 90th percentile, the tax bill can be as high as $1,365. The highest and lowest median tax bills in the area are both $399, indicating a relatively narrow range in median tax bills compared to other regions. Understanding these factors helps homeowners plan their finances and anticipate potential tax obligations, ensuring they are well-prepared for their annual property tax bills.
Average Mc Rae Tax Bill
$399
Average White County Tax Bill
$632
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Rae, White County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72102 | $77 | $194 | $399 | $772 | $1,365 |
Source: Ownwell