Gillett, Jefferson County, Arkansas Property Taxes
Median Gillett, AR effective property tax rate: 0.56%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Gillett, AR home value: $43,400
Median annual Gillett, AR tax bill: $220, $2,180 lower than the national median property tax bill of $2,400.
How are property taxes in Jefferson calculated?
Property taxes in Gillett, 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 Gillett’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Gillett, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Gillett, Jefferson County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.56%
Estimate Property Tax Bill
$243
$226
Property Tax Rates Across Gillett, Jefferson County, Arkansas
Local government entities set property tax rates, which can vary within a state. Each county estimates its required budget for services and divides it by the total value of all taxable property, resulting in the property tax rate. While votes and laws influence these rates and budgets, this is the core annual process.
In Gillett, located in Jefferson County, Arkansas, the effective property tax rate is 0.56%. This is considerably lower than the national median property tax rate of 1.02%. The median property tax bill in Arkansas stands out as one of the lowest in the country, providing a significant advantage for property owners in Gillett compared to the national median of $2,400.
When comparing Gillett's property tax rate to other cities in Arkansas, it becomes evident that Gillett offers a favorable tax environment. This lower rate can be attributed to the county's efficient budget management and the overall lower assessed property values. For property owners in Gillett, this means potential savings and a more affordable cost of living, making it an attractive option for homeowners seeking to minimize their tax burden.
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 Gillett Tax Rate
0.56%
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 Jefferson County Tax Rate
0.73%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Gillett, Jefferson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72055 | 0.25% | 0.44% | 0.56% | 0.86% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Gillett, Jefferson County, Arkansas
When examining property taxes in Gillett, 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 Jefferson 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 Jefferson 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 Gillett. For example, the median home price in Gillett is $43,400, with tax bills ranging significantly across the county. Zip code 72055 has the highest median home price at $43,400.
Property Tax Assessment Values Across Gillett, Jefferson County, Arkansas
Source: Ownwell
$32,800
$103,525
$174,250
Median Gillett Market Value
$43,400
Median Jefferson County Market Value
$69,000
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Gillett, Jefferson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72055 | $15,710 | $20,150 | $43,400 | $83,400 | $96,500 |
Source: Ownwell
Property Tax Bills Across Gillett, Jefferson County, Arkansas
In Gillett, located in Jefferson County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in the area is $43,400. Tax rates are applied to this assessed value to determine the annual tax bill. In Gillett, the median property tax bill stands at $220, significantly lower than the national median property tax bill of $2,400. Factors influencing property tax bills include the property's assessed value and local tax rates. Homeowners can face financial strain if their property is over-assessed, leading to higher tax bills.
Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By analyzing local market trends and assessment data, Ownwell can identify potential over-assessments and assist homeowners in appealing their property tax bills. This can result in significant savings, reducing the financial burden on homeowners. With expert guidance, homeowners in Gillett can ensure their property taxes are fair and accurate, aligning more closely with their property's true market value.
Median Gillett Tax Bill
$220
Median Jefferson County Tax Bill
$457
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Gillett, Jefferson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72055 | $39 | $99 | $220 | $677 | $871 |
Source: Ownwell