Mayflower, Faulkner County, Arkansas Property Taxes

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

Median Mayflower, AR effective property tax rate: 0.98%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Mayflower, AR home value: $102,200
Median annual Mayflower, AR tax bill: $924, $1,476 lower than the national median property tax bill of $2,400.

How are property taxes in Faulkner County calculated?

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

Last Updated March 1, 2025

Mayflower, Faulkner County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.98%

Estimate Property Tax Bill

$1,002

$929

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

Property Tax Rates Across Mayflower, Faulkner County, Arkansas

Local government entities set tax rates, which can vary widely within a state. 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 Mayflower’s effective property tax rate to other cities in Arkansas and the median property tax rates in Arkansas and the U.S. In Mayflower, located in Faulkner County, the effective property tax rate stands at 0.98%, which is slightly below the national median of 1.02%. This makes the property tax rate in Mayflower one of the lowest in Arkansas, aligning with the state's median rate. This favorable tax rate can offer significant savings compared to the national average, making Mayflower an attractive location for property owners. Whether you're a homeowner or looking to invest, understanding these rates can help you make informed financial decisions.

Property Tax Rates Across Mayflower, 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 Mayflower Tax Rate

0.98%

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 Mayflower, Faulkner County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72106	0.71%	0.85%	0.98%	1.04%	1.06%

Source: Ownwell

Property Tax Assessment Values Across Mayflower, Faulkner County, Arkansas

When examining property taxes in Mayflower, 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 Assessor's 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. In Faulkner County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Mayflower. For example, the median home price in Mayflower is $102,200, with tax bills ranging significantly across the county. Zip code 72106 has the highest median home price at $102,200.

Property Tax Assessment Values Across Mayflower, Faulkner County, Arkansas

Source: Ownwell

$77,575

$128,063

$178,550

Median Mayflower Market Value

$102,200

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 Mayflower, Faulkner County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72106	$24,160	$53,250	$102,200	$169,250	$264,680

Source: Ownwell

Property Tax Bills Across Mayflower, Faulkner County, Arkansas

In Mayflower, located in Faulkner County, Arkansas, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, with a median home price of $102,200, homeowners can expect varying tax bills depending on their specific property assessments. While the national median property tax bill is $2,400, Mayflower's tax bills range significantly, with the 25th percentile at $463 and the 90th percentile reaching $2,421. These figures highlight the potential for substantial savings if assessments are appealed successfully. Homeowners in Mayflower might find their tax bills higher than necessary due to inaccurate assessments or overlooked exemptions. Ownwell offers expertise in navigating property tax appeals and exemptions, helping homeowners potentially reduce their tax liabilities. By ensuring assessments are fair and accurate, Ownwell assists homeowners in achieving significant savings on their property tax bills.

Property Tax Bills Across Mayflower, Faulkner County, Arkansas

Source: Ownwell

$620

$1,157

$1,693

Median Mayflower Tax Bill

$924

Median Faulkner County Tax Bill

$1,390

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Mayflower, Faulkner County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72106	$219	$463	$924	$1,652	$2,421

Source: Ownwell