Magazine, Franklin County, Arkansas Property Taxes
Median Magazine, Arkansas effective property tax rate: 0.69%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Magazine, Arkansas home value: $168,500
Median annual Magazine, Arkansas tax bill: $1,078, $1,322 lower than the national median property tax bill of $2,400.
How are property taxes in Franklin calculated?
Property taxes in Magazine, Arkansas 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 Magazine’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Magazine, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Magazine, Franklin County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.69%
Estimate Property Tax Bill
$1,163
$1,079
Property Tax Rates Across Magazine, Franklin County, Arkansas
Local government entities determine property tax rates, leading to significant variations within a state. Each year, counties estimate their budgetary needs for essential services and divide this by the total assessed value of all taxable properties within their jurisdiction. This calculation establishes the property tax rate. Although setting tax rates and budgets involves votes and legislative processes, this annual procedure is the core mechanism.
In Magazine, located in Logan County, Arkansas, the effective property tax rate is an essential consideration for homeowners. The median property tax rate in Arkansas is 0.69%, which is notably lower than the national median rate of 1.02%. This means that homeowners in Magazine, and more broadly in Logan County, generally experience a lighter property tax burden compared to many other parts of the country. Understanding these rates is crucial for property owners as they assess their financial responsibilities and consider potential savings through property tax appeals or exemptions. By staying informed about local property tax trends, homeowners can make strategic decisions to manage their tax liabilities effectively.
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 Magazine Tax Rate
0.69%
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 Franklin County Tax Rate
0.67%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Magazine, Franklin County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72943 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Magazine, Franklin County, Arkansas
When examining property taxes in Magazine, 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 Franklin 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.
Assessment notices:
In Franklin 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 Magazine. For example, the median home price in Magazine is $168,500, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Magazine, Franklin County, Arkansas
Source: Ownwell
$75,250
$81,525
$87,800
Median Magazine Market Value
$168,500
Median Franklin County Market Value
$75,300
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Magazine, Franklin County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72943 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Magazine, Franklin County, Arkansas
In Magazine, located in Franklin County, AR, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is typically a fraction of the market value, and the tax rate is set by local government entities. The median home price in the area is $168,500, and property tax bills can vary significantly. For instance, homeowners at the 25th percentile pay around $516, while those at the 75th percentile pay approximately $1,333. At the 90th percentile, bills can reach $2,234, which is below the national median property tax bill of $2,400.
These variations can impact homeowners financially, especially if their property's assessed value is higher than expected. This is where Ownwell can make a difference. By offering property tax appeal services, Ownwell helps homeowners ensure their property is fairly assessed, potentially reducing their tax burden. With expert guidance, homeowners can navigate the complexities of property tax assessments and secure significant savings, making homeownership more affordable.
Median Magazine Tax Bill
$1,078
Median Franklin County Tax Bill
$476
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Magazine, Franklin County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72943 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell