Okolona, Clark County, Arkansas Property Taxes

Name: Property Tax Bills Across Okolona, Clark County, Arkansas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Okolona, AR effective property tax rate: 0.86%, significantly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Okolona, AR home value: $37,200
Median annual Okolona, AR tax bill: $266, $2,134 lower than the national median property tax bill of $2,400.

How are property taxes in Clark County calculated?

Property taxes in Okolona, AR 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 March 1, 2025

Okolona, Clark County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.86%

Estimate Property Tax Bill

$320

$297

Ownwell’s Okolona Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Okolona with just two data points. By entering your property's estimated assessed value, our calculator applies Okolona’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Clark County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Okolona, Clark County, Arkansas

Local government entities are responsible for setting property tax rates, which can significantly differ within a state. Each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the fundamental annual process.

In Okolona, located in Clark County, Arkansas, the effective property tax rate stands at 0.86%, aligning with both the highest and lowest rates within the state. Compared to the national median property tax rate of 1.02%, Okolona's rate is considerably lower, which can be an attractive feature for property owners. The median property tax bill in the U.S. is around $2,400, making Okolona's property tax landscape favorable for those looking to save on annual expenses. Understanding these rates can help property owners make informed decisions and potentially appeal for lower taxes, ensuring they are not overpaying.

Property Tax Rates Across Okolona, Clark County, Arkansas

Source: Ownwell

0.83%

0.94%

1.06%

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

0.86%

Median Effective Clark County Tax Rate

0.86%

Median Effective Arkansas Tax Rate

0.84%

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	0.14%	0.42%	0.86%	0.96%	0.96%

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.

In Clark County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Okolona. For example, the median home price in Okolona is $37,200, with tax bills ranging significantly across the county. 71962 has the highest median home price at $37,200.

Property Tax Assessment Values Across Okolona, Clark County, Arkansas

Source: Ownwell

$34,750

$62,325

$89,900

Median Okolona Market Value

$37,200

Median Clark County Market Value

$58,450

Median Arkansas Market Value

$113,950

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	$6,740	$16,662	$37,200	$79,850	$128,330

Source: Ownwell

Property Tax Bills Across Okolona, Clark County, Arkansas

In Okolona, located in Clark County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. For homeowners in Okolona, the median home price stands at $37,200. The property tax bill can vary significantly, with the 25th percentile at $96 and the 75th percentile reaching $612. At the 90th percentile, the tax bill can go up to $882. Compared to the national median property tax bill of $2,400, Okolona's property tax bills are considerably lower, reflecting the area's lower home values. However, even these seemingly modest amounts can impact homeowners' budgets. That's where Ownwell steps in. By providing expert property tax appeal services, Ownwell helps homeowners ensure their property assessments are fair, potentially lowering their tax bills. With a deep understanding of local tax regulations, Ownwell can identify opportunities for savings, helping homeowners in Okolona keep more money in their pockets.

Property Tax Bills Across Okolona, Clark County, Arkansas

Source: Ownwell

$222

$474

$725

Median Okolona Tax Bill

$266

Median Clark County Tax Bill

$458

Median Arkansas Tax Bill

$877

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	$30	$96	$266	$612	$882

Source: Ownwell