Mcgehee, Arkansas Property Taxes
The median property tax rate in McGehee, Arkansas is 0.98%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in McGehee, the typical annual property tax bill amounts to $226, which is significantly lower than the national median of $2,690. Property taxes in McGehee are determined based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding McGehee'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 McGehee 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
Mcgehee, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$81
$75
Ownwell’s McGehee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McGehee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McGehee 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 Mcgehee, Arkansas
Property taxes in McGehee, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McGehee is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within McGehee set these rates annually, and they can vary significantly across different neighborhoods. Each year, McGehee 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 McGehee's effective property tax rate to other regions in Desha County and the national median. For comparison, the 71666 zip code has the highest median property tax rate of 0.77%, while the 71630 zip code has the lowest median tax rate of 0.69%. Understanding how these areas compare with McGehee provides valuable insights into the varying tax landscape across Desha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mcgehee Tax Rate
0.98%
Average Desha County Tax Rate
0.95%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcgehee, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71630 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| 71654 | N/A | N/A | N/A | N/A | N/A |
| 71666 | 0.63% | 0.69% | 0.77% | 0.86% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Mcgehee, Arkansas
In McGehee, 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 Desha County 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 McGehee, 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 McGehee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Desha County, the highest median tax bill is $1,274 in the 71666 zip code, while the lowest is $220 in the 71630 zip code.
Average Mcgehee Assessed Value
$8,250
Average Desha County Assessed Value
$52,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mcgehee, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71630 | $21,940 | $25,600 | $31,700 | $37,800 | $41,460 |
| 71654 | N/A | N/A | N/A | N/A | N/A |
| 71666 | $51,210 | $93,675 | $164,450 | $479,250 | $668,130 |
Source: Ownwell
Property Tax Bills Across Mcgehee, Arkansas
Property tax bills in McGehee, located in Desha County, AR, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Various factors influence the tax bill, including property size, location, and market conditions. For homeowners in McGehee, property tax bills can vary significantly. The 25th percentile tax bill stands at $100, while the 75th percentile reaches $1,153, and the 90th percentile can go as high as $2,631. Comparatively, the highest median tax bill in the region is $1,274 in the 71666 zip code, while the lowest is $220 in the 71630 zip code. These taxes fund essential public services like schools, infrastructure, and emergency services. Understanding how property tax bills are calculated can help homeowners anticipate their financial obligations and plan accordingly.
Average Mcgehee Tax Bill
$226
Average Desha County Tax Bill
$449
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcgehee, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71630 | $151 | $177 | $220 | $263 | $288 |
| 71654 | N/A | N/A | N/A | N/A | N/A |
| 71666 | $365 | $706 | $1,274 | $4,377 | $6,239 |
Source: Ownwell