Lake Village, Chicot County, Arkansas Property Taxes
Property Taxes in Lake Village, Arkansas
Median Lake Village, Arkansas effective property tax rate: 0.68%, significantly lower than the national median of 1.02%, and lower than the Arkansas state median of 0.81%.
Median Lake Village, Arkansas home value: $83,000
Median annual Lake Village, Arkansas tax bill: $583, lower than the national median property tax bill of $2,400.
How are property taxes in Chicot calculated?
Property taxes in Lake Village, Arkansas are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lake Village's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Village, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Lake Village, Chicot County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.68%
Estimate Property Tax Bill
$564
$524
How Does the Lake Village Property Tax Calculator Work?
Use this Lake Village property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Lake Village's median effective tax rate of 0.68% — based on actual property records in Chicot County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Lake Village's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Lake Village: rates range from 0.68% in 71653 to 0.68% in 71653, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Lake Village.
About Lake Village Property Taxes
About Property Taxes in Lake Village, Chicot, Arkansas
Lake Village's median effective property tax rate of 0.68% is lower than the Arkansas state median of 0.81% and lower than the national median of 1.02%. This rate reflects the Chicot County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Lake Village. Homeowners in the 71653 ZIP code carry a median effective rate of 0.68%, while those in 71653 pay 0.68%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Chicot County. Understanding which part of Lake Village you live in can make a meaningful difference to your annual tax bill.
Lake Village homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the August 17, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Lake Village, Chicot County, Arkansas
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Lake Village's effective property tax rate to other cities in Arkansas and the median property tax rates in Arkansas and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lake Village Tax Rate
0.68%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Chicot County Tax Rate
0.82%
Median Effective Arkansas Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Village, Chicot County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71653 | 0.49% | 0.59% | 0.68% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Lake Village, Chicot County, Arkansas
When examining property taxes in Lake Village, Arkansas, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Chicot County assessment office estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Chicot County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of July.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. For context, the median home price in Lake Village is $83,000, with tax bills ranging significantly across the county. ZIP code 71653 has the highest median home price at $83,000.
Property Tax Assessment Values Across Lake Village, Chicot County, Arkansas
Source: Ownwell
$28,500
$63,850
$99,200
Median Lake Village Market Value
$83,000
Median Chicot County Market Value
$45,200
Median Arkansas Market Value
$118,750
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Village, Chicot County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71653 | $7,820 | $33,150 | $83,000 | $200,250 | $367,740 |
Source: Ownwell
Property Tax Bills Across Lake Village, Chicot County, Arkansas
Property tax bills in Lake Village are based on the assessed value of a home, not its market price. Local taxing authorities apply the property tax rate to that assessed value to determine the annual bill, and the amount can vary depending on the home’s location and any applicable exemptions. For homeowners, this means two similar homes can receive different bills if their assessed values or tax rates differ.
In Lake Village, the median home price is $83,000, which helps explain why many property tax bills remain relatively modest compared with the national median property tax bill of $2,400. The typical tax bill in the area ranges from $262 at the 25th percentile to $1,268 at the 75th percentile, with the 90th percentile reaching $2,336. The highest and lowest median tax bill are both $583 in ZIP code 71653.
Median Lake Village Tax Bill
$583
Median Chicot County Tax Bill
$374
Median Arkansas Tax Bill
$870
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Village, Chicot County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71653 | $96 | $262 | $583 | $1,268 | $2,336 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | August 17 |
Links | |
|---|---|
| Chicot Tax Assessor | |
| Website | www.arcountydata.com |