Mc Crory, Arkansas Property Taxes
The median property tax rate in Mc Crory, AR is 0.81%, 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 Mc Crory at $61,500, the typical annual property tax bill is $422, significantly below the national median of $2,690. Property taxes in Mc Crory 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 Mc Crory'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 Mc Crory 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
Mc Crory, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$498
$462
Ownwell’s MC CRORY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC CRORY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC CRORY 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 Crory, Arkansas
Property taxes in Mc Crory, Arkansas, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Mc Crory is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Mc Crory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Crory 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 Crory's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72101 has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Mc Crory provides valuable insights into the varying tax landscape across Woodruff County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Crory Tax Rate
0.81%
Average Woodruff County Tax Rate
0.89%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Crory, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72101 | 0.21% | 0.43% | 0.81% | 0.89% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Mc Crory, Arkansas
In MC CRORY, 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 Woodruff 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 CRORY, 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 CRORY helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72101 has the highest median tax bill in the area at $422.
Average Mc Crory Assessed Value
$61,500
Average Woodruff County Assessed Value
$44,350
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Crory, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72101 | $16,855 | $34,612 | $61,500 | $96,562 | $143,920 |
Source: Ownwell
Property Tax Bills Across Mc Crory, Arkansas
In McCrory, located in Woodruff County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $61,500, the assessed value is then used to calculate the property tax bill. Several factors influence the final tax bill, including the property's location within the county, local tax rates, and any applicable exemptions or deductions. For example, the 25th percentile tax bill in McCrory is around $209, while the 75th percentile reaches $703, and the 90th percentile can go up to $1,162. Homeowners in McCrory should be aware that these tax bills can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, McCrory's rates can be seen as relatively moderate, providing a balanced financial environment for property owners.
Average Mc Crory Tax Bill
$422
Average Woodruff County Tax Bill
$317
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Crory, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72101 | $74 | $209 | $422 | $703 | $1,162 |
Source: Ownwell