Plainview, Arkansas Property Taxes
The median property tax rate in Plainview, AR is 0.89%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Plainview at $37,925, the typical annual property tax bill amounts to $327, which is significantly lower than the national median of $2,690. Property taxes in Plainview are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Plainview'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 Plainview 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
Plainview, 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 Plainview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plainview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plainview 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 Plainview, Arkansas
Property taxes in Plainview, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plainview is 0.89%, which is below the U.S. national median of 0.99%. Local government entities within Plainview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plainview 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 Plainview's effective property tax rate to other areas in Yell County and the national median. For comparison, the zip code 72857 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Plainview provides valuable insights into the varying tax landscape across Yell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plainview Tax Rate
0.89%
Average Yell County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plainview, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72857 | 0.70% | 0.87% | 0.89% | 0.89% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Plainview, Arkansas
In Plainview, 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 Yell County Assessor's Office 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 Plainview, 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. The median home price in Plainview is $37,925, with tax bills ranging from $156 at the 25th percentile to $940 at the 90th percentile. The highest median tax bill is $327 in the 72857 zip code, which also has the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Plainview Assessed Value
$37,925
Average Yell County Assessed Value
$66,625
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plainview, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72857 | $6,725 | $16,512 | $37,925 | $72,912 | $117,985 |
Source: Ownwell
Property Tax Bills Across Plainview, Arkansas
In Plainview, located in Yell County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $37,925, homeowners can expect their tax bills to vary significantly. Factors that influence the tax bill include the home’s assessed value, local tax rates, and applicable exemptions or deductions. For the 25th percentile, the tax bill is around $156, whereas it rises to approximately $622 for the 75th percentile, and can go up to $940 for the 90th percentile. This variation shows how different factors and home values impact the overall tax amount. Compared to the national median property tax rate of 0.99%, homeowners in Plainview may find their property tax bills to be relatively manageable. However, understanding these factors is crucial for homeowners to anticipate their financial obligations accurately and plan accordingly.
Average Plainview Tax Bill
$327
Average Yell County Tax Bill
$585
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Plainview, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72857 | $69 | $156 | $327 | $622 | $940 |
Source: Ownwell