El Paso, Faulkner County, Arkansas Property Taxes

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

Median EL PASO, AR effective property tax rate: 0.96%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median EL PASO, AR home value: $173,500
Median annual EL PASO, AR tax bill: $1,673, $727 lower than the national median property tax bill of $2,400.

How are property taxes in Faulkner calculated?

Property taxes in EL PASO, 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 EL PASO’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in EL PASO, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

El Paso, Faulkner County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.96%

Estimate Property Tax Bill

$1,666

$1,546

Ownwell’s EL PASO Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in EL PASO with just two data points. By entering your property's estimated assessed value, our calculator applies EL PASO’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 05045. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across El Paso, Faulkner County, Arkansas

Local government entities set tax rates, which can vary widely within a state. This is because each county annually 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. El Paso in Faulkner County, Arkansas, has an effective property tax rate that residents may find favorable when compared to other cities within the state. Arkansas's median property tax rate is slightly below the national median of 1.02%, making it an attractive option for property owners. Moreover, the median property tax bill in Arkansas is also generally lower than the national median bill of $2400, offering potential savings. For homeowners looking to appeal their property taxes or explore exemptions, understanding these rates and how they compare can be crucial. By navigating these nuances, property owners in El Paso can make informed decisions about their tax obligations and potential savings.

Property Tax Rates Across El Paso, Faulkner County, Arkansas

Source: Ownwell

0.89%

0.95%

1.01%

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 El Paso Tax Rate

0.96%

Median Effective Faulkner County Tax Rate

0.96%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across El Paso, Faulkner County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72045	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across El Paso, Faulkner County, Arkansas

When examining property taxes in EL PASO, AR, 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 Faulkner 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 Faulkner 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 EL PASO.

For example, the median home price in EL PASO is $173,500, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across El Paso, Faulkner County, Arkansas

Source: Ownwell

$77,575

$128,063

$178,550

Median El Paso Market Value

$173,500

Median Faulkner County Market Value

$149,500

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across El Paso, Faulkner County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72045	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across El Paso, Faulkner County, Arkansas

In El Paso, Arkansas, property tax bills are determined by assessing the market value of a home and applying the local tax rate. With a median home price of $173,500, homeowners in Faulkner County face tax bills that can vary significantly. The 25th percentile tax bill is $1,455, while the 75th percentile reaches $1,994, and the 90th percentile climbs to $2,240. Compared to the national median property tax bill of $2,400, El Paso homeowners generally pay less, but individual circumstances can cause variations. Factors influencing these bills include the assessed value of the property, local tax rates, and any applicable exemptions.

Ownwell assists homeowners by identifying potential savings through property tax appeals and exemption services. By reviewing property assessments and ensuring accurate valuations, Ownwell helps reduce tax liabilities, ensuring homeowners aren't overpaying. This service is invaluable for those aiming to optimize their property tax expenses, providing peace of mind and financial savings.

Property Tax Bills Across El Paso, Faulkner County, Arkansas

Source: Ownwell

$620

$1,157

$1,693

Median El Paso Tax Bill

$1,673

Median Faulkner County Tax Bill

$1,390

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across El Paso, Faulkner County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72045	N/A	N/A	N/A	N/A	N/A

Source: Ownwell