Quitman, Faulkner County, Arkansas Property Taxes
Median Quitman, AR effective property tax rate: 0.89%, significantly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Quitman, AR home value: $77,575
Median annual Quitman, AR tax bill: $620, $1,780 lower than the national median property tax bill of $2,400.
How are property taxes in Faulkner County calculated?
Property taxes in Quitman, 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 Quitman’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Quitman, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Quitman, Faulkner County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.89%
Estimate Property Tax Bill
$690
$641
Property Tax Rates Across Quitman, Faulkner County, Arkansas
Local government entities determine tax rates, which can differ significantly within a state. Each county calculates its necessary budget to fund services and divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Quitman, Faulkner County, Arkansas, the effective property tax rate is notably lower than the national median of 1.02%. This can be advantageous for property owners as it means a smaller portion of their property's assessed value goes towards taxes. Compared to other cities in Arkansas, Quitman's rate is consistent with the state's overall median, making it a competitive option for those looking to manage their property tax expenses effectively. When contrasted with the U.S. median property tax bill of $2,400, residents in Quitman may find themselves with more disposable income, contributing to a potentially higher quality of life. This favorable tax environment can be a compelling factor for prospective homeowners or investors considering property in Quitman.
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 Quitman Tax Rate
0.89%
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 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 Quitman, Faulkner County, Arkansas
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
72131 | 0.55% | 0.76% | 0.89% | 0.91% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Quitman, Faulkner County, Arkansas
When examining property taxes in Quitman, 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 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 Quitman.
For example, the median home price in Quitman is $77,575, with tax bills ranging significantly across the county. Zip code 72131 has the highest median home price at $77,575.
Property Tax Assessment Values Across Quitman, Faulkner County, Arkansas
Source: Ownwell
$77,575
$128,063
$178,550
Median Quitman Market Value
$77,575
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 Quitman, Faulkner County, Arkansas
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
72131 | $15,565 | $41,688 | $77,575 | $147,188 | $220,980 |
Source: Ownwell
Property Tax Bills Across Quitman, Faulkner County, Arkansas
Median Quitman Tax Bill
$620
Median Faulkner County Tax Bill
$1,390
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Quitman, Faulkner County, Arkansas
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
72131 | $137 | $331 | $620 | $1,228 | $1,922 |
Source: Ownwell