Okolona, Clark County, Arkansas Property Taxes
Property Taxes in Okolona, Arkansas
Median Okolona, Arkansas effective property tax rate: 0.96%, significantly lower than the national median of 1.02%, and lower than the Arkansas state median of 0.81%.
Median Okolona, Arkansas home value: $38,650
Median annual Okolona, Arkansas tax bill: $281, $2,119 lower than the national median property tax bill of $2,400.
How are property taxes in Clark calculated?
Property taxes in Okolona, 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 Okolona's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Okolona, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Okolona, Clark County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.96%
Estimate Property Tax Bill
$371
$344
How Does the Okolona Property Tax Calculator Work?
Use this Okolona property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Okolona's median effective tax rate of 0.96% — based on actual property records in Clark 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 Okolona'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 Okolona: rates range from 0.96% in 71962 to 0.96% in 71962, 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 Okolona.
About Okolona Property Taxes
About Property Taxes in Okolona, Clark, Arkansas
Okolona’s median effective property tax rate of 0.96% is higher than the Arkansas state median of 0.81% and lower than the national median of 1.02%. This rate reflects the Clark 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 Okolona. Homeowners in ZIP code 71962 carry a median effective rate of 0.96%, while those in 71962 pay 0.96%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Clark County. Understanding which part of Okolona you live in can make a meaningful difference to your annual tax bill.
Okolona 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 Okolona, Clark 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 Okolona'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 Okolona Tax Rate
0.96%
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 Clark County Tax Rate
0.90%
Median Effective Arkansas Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Okolona, Clark County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71962 | 0.11% | 0.44% | 0.96% | 1.00% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Okolona, Clark County, Arkansas
When examining property taxes in Okolona, 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 Clark County appraisal district 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 Clark 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 example, the median home price in Okolona is $38,650, with tax bills ranging significantly across the county. ZIP code 71962 has the highest median home price at $38,650.
Property Tax Assessment Values Across Okolona, Clark County, Arkansas
Source: Ownwell
$34,550
$61,975
$89,400
Median Okolona Market Value
$38,650
Median Clark County Market Value
$59,050
Median Arkansas Market Value
$118,750
Median United States Market Value
$235,294
Property Tax Assessment Values Across Okolona, Clark County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71962 | $6,830 | $16,625 | $38,650 | $81,875 | $127,120 |
Source: Ownwell
Property Tax Bills Across Okolona, Clark County, Arkansas
How are property tax bills calculated in Okolona?
Property tax bills in Okolona are based on the assessed value of a home and the local tax rate set by the county and other taxing authorities. When a property’s market value changes, the assessed value can change too, which affects the final bill homeowners receive.
For a home with a median price of $38,650, the property tax bill can vary widely depending on the assessment and local rates. In Okolona, the tax bill at the 25th percentile is $88, while the 75th percentile reaches $618 and the 90th percentile climbs to $975. The median tax bill in the area is $281.00, which is well below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%.
These bills matter because they directly affect monthly housing costs and long-term affordability for homeowners.
Median Okolona Tax Bill
$281
Median Clark County Tax Bill
$443
Median Arkansas Tax Bill
$870
Median United States Tax Bill
$2,400
Property Tax Bills Across Okolona, Clark County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71962 | $28 | $88 | $281 | $618 | $975 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | August 17 |
Links | |
|---|---|
| Clark Tax Assessor | |
| Website | www.actdatascout.com |