Searcy, Arkansas Property Taxes
The median property tax rate in Searcy, AR is 0.80%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Searcy at $112,300, the typical annual property tax bill is about $866, significantly below the national median of $2,690. Property taxes in Searcy are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Searcy'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 Searcy or elsewhere in White County, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Searcy, 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 Searcy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Searcy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Searcy 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 Searcy, Arkansas
Property taxes in Searcy, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Searcy is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Searcy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Searcy 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 Searcy's effective property tax rate to other areas in Arkansas and the national median. For comparison, the 72149 zip code has the highest median property tax rate of 0.81%, while the 72012 zip code has the lowest median tax rate of 0.80%. Understanding how these areas compare with Searcy 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 Searcy 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 Searcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72012 | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% |
| 72143 | 0.61% | 0.76% | 0.80% | 0.81% | 0.81% |
| 72149 | 0.77% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Searcy, Arkansas
In Searcy, 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. 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. For instance, the highest median tax bill in Searcy is $2,066 in the 72012 zip code, while the lowest median tax bill is $773 in the 72149 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 Searcy Assessed Value
$112,300
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 Searcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72012 | $259,550 | $259,550 | $259,550 | $259,550 | $259,550 |
| 72143 | $18,015 | $58,212 | $112,425 | $171,800 | $261,200 |
| 72149 | $94,350 | $95,125 | $95,225 | $95,850 | $97,100 |
Source: Ownwell
Property Tax Bills Across Searcy, Arkansas
In Searcy, White County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Searcy is $112,300. Local assessors determine this value, and then the applicable tax rate is applied to calculate the tax bill. Factors such as property improvements, location, and market conditions play a significant role in determining the assessed value. Homeowners in Searcy can expect varying tax bills, with the 25th percentile tax bill at $455 and the 75th percentile at $1329. For those in the 90th percentile, tax bills can reach up to $1988. The highest median tax bill in the area is $2066, found in the 72012 zip code, while the lowest median tax bill is $773 in the 72149 zip code. Compared to the national median property tax rate of 0.99%, Searcy's rates offer a relatively affordable option for homeowners, impacting their overall cost of living and financial planning.
Average Searcy Tax Bill
$866
Average White County Tax Bill
$632
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Searcy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72012 | $2,066 | $2,066 | $2,066 | $2,066 | $2,066 |
| 72143 | $170 | $455 | $867 | $1,330 | $1,988 |
| 72149 | $736 | $763 | $773 | $773 | $777 |
Source: Ownwell