Charlotte, Independence County, Arkansas Property Taxes

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

Median Charlotte, Arkansas effective property tax rate: 0.57%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Charlotte, Arkansas home value: $56,250
Median annual Charlotte, Arkansas tax bill: $288, $2,112 lower than the national median property tax bill of $2,400.

How are property taxes in Independence County calculated?

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

Last Updated March 1, 2025

Charlotte, Independence County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.57%

Estimate Property Tax Bill

$321

$298

Ownwell’s Charlotte Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Charlotte with just two data points.

By entering your property's estimated assessed value, our calculator applies Charlotte’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 Independence County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Charlotte, Independence County, Arkansas

Local government entities set tax rates, and these can vary greatly within a state. Each year, counties estimate the budget needed to provide essential services and divide this by the total value of all taxable property in their jurisdiction, resulting in the property tax rate. While votes and laws influence tax rates and budgets, this is the basic process annually.

Charlotte in Independence County, Arkansas, has an effective property tax rate of 0.57%, which matches the highest and lowest median rates within the state, both found in the same zip code. This rate is significantly lower than the national median property tax rate of 1.02%. The median property tax bill in Arkansas is also lower than the national median of $2,400. Such differences highlight the variability of property taxes across different regions, influenced by local government decisions and the assessed value of properties. Understanding these distinctions can be crucial for property owners considering an appeal or exemption, as they navigate the complexities of property taxation.

Property Tax Rates Across Charlotte, Independence County, Arkansas

Source: Ownwell

0.48%

0.70%

0.92%

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 Charlotte Tax Rate

0.57%

Median Effective Independence County Tax Rate

0.72%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Charlotte, Independence County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72522	0.15%	0.28%	0.57%	0.94%	0.95%

Source: Ownwell

Property Tax Assessment Values Across Charlotte, Independence County, Arkansas

When examining property taxes in Charlotte, 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 Independence 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 Independence 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 Charlotte. For example, the median home price in Charlotte is $56,250, with tax bills ranging significantly across the county. Zip code 72522 has the highest median home price at $56,250.

Property Tax Assessment Values Across Charlotte, Independence County, Arkansas

Source: Ownwell

$37,550

$61,275

$85,000

Median Charlotte Market Value

$56,250

Median Independence County Market Value

$66,400

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Charlotte, Independence County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72522	$12,850	$28,275	$56,250	$96,275	$133,550

Source: Ownwell

Property Tax Bills Across Charlotte, Independence County, Arkansas

In Charlotte, Independence County, AR, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in this area is $56,250, significantly lower than the national median. Consequently, property tax bills vary widely, with the 25th percentile at $78 and the 75th percentile reaching $601. The 90th percentile tax bill is $1,001, which is substantial for the region but still below the national median property tax bill of $2,400. Homeowners in Charlotte may find their tax bills influenced by factors such as property improvements, neighborhood developments, and changes in local tax rates. These factors can lead to unexpected increases in tax liabilities, affecting household budgets. Ownwell offers a valuable service by assisting homeowners in appealing their property tax assessments and identifying potential exemptions. By leveraging expert knowledge and local insights, Ownwell can help homeowners reduce their tax burden, ensuring they only pay what is fair and potentially saving them hundreds of dollars annually.

Property Tax Bills Across Charlotte, Independence County, Arkansas

Source: Ownwell

$150

$361

$572

Median Charlotte Tax Bill

$288

Median Independence County Tax Bill

$426

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Charlotte, Independence County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72522	$65	$78	$288	$601	$1,001

Source: Ownwell