Twin Groves, Faulkner County, Arkansas Property Taxes
Median Twin Groves, AR effective property tax rate: 1.00%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Twin Groves, AR home value: $52,000
Median annual Twin Groves, AR tax bill: $502, $1,898 lower than the national median property tax bill of $2,400.
How are property taxes in Faulkner calculated?
Property taxes in Twin Groves, 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 Twin Groves’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Twin Groves, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Twin Groves, Faulkner County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1%
Estimate Property Tax Bill
$520
$483
Ownwell’s Twin Groves Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Twin Groves with just two data points. By entering your property's estimated assessed value, our calculator applies Twin Groves’ 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 Twin Groves, Faulkner County, Arkansas
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 Twin Groves Tax Rate
1.00%
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 Twin Groves, Faulkner County, Arkansas
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
72039 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Twin Groves, Faulkner County, Arkansas
When examining property taxes in Twin Groves, 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 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 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 Twin Groves. For example, the median home price in Twin Groves is $52,000, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Twin Groves, Faulkner County, Arkansas
Source: Ownwell
$77,575
$128,063
$178,550
Median Twin Groves Market Value
$52,000
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 Twin Groves, Faulkner County, Arkansas
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
72039 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Twin Groves, Faulkner County, Arkansas
In Twin Groves, located in Faulkner County, AR, property tax bills are determined by the assessed value of a home, which is a percentage of its market value. Homeowners in this region experience a range of property tax bills, with the 25th percentile at $200, the 75th percentile at $561, and the 90th percentile reaching $1,395. Compared to the national median property tax bill of $2,400, Twin Groves homeowners generally face lower tax bills. However, the assessed values and resulting tax bills can still significantly impact household budgets.
Various factors, such as property improvements or changes in local tax rates, can influence the assessed value, leading to fluctuations in property tax bills. This is where Ownwell steps in to assist homeowners. By providing expert property tax appeal and exemption services, Ownwell helps ensure that homeowners are not overpaying on their property taxes. By analyzing property assessments and identifying potential savings, Ownwell can effectively reduce the financial burden of property taxes for Twin Groves residents.
Median Twin Groves Tax Bill
$502
Median Faulkner County Tax Bill
$1,390
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Twin Groves, Faulkner County, Arkansas
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
72039 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell