Lafe, Greene County, Arkansas Property Taxes
Median Lafe, Arkansas effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Lafe, Arkansas home value: $64,100
Median annual Lafe, Arkansas tax bill: $444, $1,956 lower than the national median property tax bill of $2,400.
How are property taxes in Greene County calculated?
Property taxes in Lafe, 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 Lafe’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lafe, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lafe, Greene County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.61%
Estimate Property Tax Bill
$509
$472
Property Tax Rates Across Lafe, Greene County, Arkansas
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its required budget for services and divides it 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 these rates and budgets, this is essentially the annual process.
In Lafe, located in Greene County, Arkansas, the effective property tax rate offers an interesting comparison to other cities in the state. The median property tax rate in Arkansas is 0.73%, which is notably lower than the national median of 1.02%. This lower rate can result in significant savings for property owners in Arkansas compared to those in states with higher rates. By understanding how these rates are determined and comparing them to national figures, property owners can better appreciate the financial implications of their local tax rates.
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 Lafe Tax Rate
0.61%
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 Greene County Tax Rate
0.71%
Median Effective Arkansas Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lafe, Greene County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72436 | 0.42% | 0.51% | 0.61% | 0.71% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Lafe, Greene County, Arkansas
When examining property taxes in Lafe, 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 Greene 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 Greene 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 Lafe. For example, the median home price in Lafe is $64,100, with tax bills ranging significantly across the county. Zip code 72436 has the highest median home price at $64,100.
Property Tax Assessment Values Across Lafe, Greene County, Arkansas
Source: Ownwell
$76,450
$121,575
$166,700
Median Lafe Market Value
$83,375
Median Greene County Market Value
$134,200
Median Arkansas Market Value
$118,750
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lafe, Greene County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72436 | $16,985 | $41,925 | $83,375 | $153,525 | $224,925 |
Source: Ownwell
Property Tax Bills Across Lafe, Greene County, Arkansas
In Lafe, located in Greene County, AR, property tax bills are calculated based on the assessed value of a home, which is a fraction of its market value. The median home price here is $64,100, significantly lower than the national median. Property tax bills can vary widely, with the 25th percentile at $249 and the 90th percentile reaching $1,154. This range highlights the variability in tax burdens homeowners face. The median tax bill in Lafe is $444, which is below the national median of $2,400, reflecting the region's lower property values and tax rates.
Factors influencing the tax bill include the property's assessed value and the local tax rate. Homeowners in Lafe can benefit from appealing their property assessments to ensure they are not overpaying. Ownwell can assist by providing expert property tax appeal services, potentially lowering tax bills and ensuring fair assessments. By leveraging local expertise and data-driven insights, Ownwell helps homeowners navigate the complexities of property taxation and maximize their savings.
Median Lafe Tax Bill
$478
Median Greene County Tax Bill
$903
Median Arkansas Tax Bill
$870
Median United States Tax Bill
$2,400
Property Tax Bills Across Lafe, Greene County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72436 | $150 | $263 | $478 | $900 | $1,257 |
Source: Ownwell