Lynn, Lawrence County, Arkansas Property Taxes
Median Lynn, Arkansas effective property tax rate: 0.62%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Lynn, Arkansas home value: $68,040
Median annual Lynn, Arkansas tax bill: $422, $1,978 lower than the national median property tax bill of $2,400.
How are property taxes in Lawrence calculated?
Property taxes in Lynn, 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 Lynn’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lynn, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lynn, Lawrence County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.62%
Estimate Property Tax Bill
$422
$391
Property Tax Rates Across Lynn, Lawrence County, Arkansas
Local government entities in Lynn, Lawrence County, Arkansas, set property tax rates, which can differ significantly within the state. Each year, the county estimates its budgetary needs for public services and divides this figure by the total assessed value of all taxable properties in its jurisdiction, resulting in the property tax rate. Although votes and legislation play roles in determining these rates and budgets, this is the annual process in essence.
In Lynn, the effective property tax rate can be compared to other cities in Arkansas, as well as to the median property tax rates in the state and across the U.S. The median property tax rate in Arkansas is notably lower than the national median, providing a more affordable tax environment for property owners. Understanding these differences can be crucial for property owners looking to manage their expenses efficiently. By appealing property taxes or seeking exemptions, property owners in Lynn can potentially reduce their financial burden further, making it an essential consideration for those investing in the area.
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 Lynn Tax Rate
0.62%
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 Lawrence County Tax Rate
0.63%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lynn, Lawrence County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72440 | 0.43% | 0.54% | 0.62% | 0.66% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Lynn, Lawrence County, Arkansas
When examining property taxes in Lynn, 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 Lawrence County Assessor 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 Lawrence 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 Lynn.
For example, the median home price in Lynn is $68,040, with tax bills ranging significantly across the county. The zip code 72440 has the highest median home price at $68,040.
Property Tax Assessment Values Across Lynn, Lawrence County, Arkansas
Source: Ownwell
$37,178
$67,033
$96,888
Median Lynn Market Value
$68,040
Median Lawrence County Market Value
$77,245
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lynn, Lawrence County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72440 | $29,556 | $43,788 | $68,040 | $106,515 | $146,687 |
Source: Ownwell
Property Tax Bills Across Lynn, Lawrence County, Arkansas
In Lynn, Arkansas, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. Homeowners in Lynn typically face a median property tax bill of $422, significantly lower than the national median of $2,400. However, the tax bill can range from $253 at the 25th percentile to $927 at the 90th percentile, indicating variability based on specific property characteristics.
For homeowners, these property taxes can impact overall housing costs, making it essential to ensure accuracy in assessment. Ownwell aids homeowners by providing property tax appeal and exemption services, potentially lowering tax bills by identifying discrepancies in assessed values. By leveraging expert knowledge and local data, Ownwell helps ensure homeowners pay only their fair share, offering potential savings and peace of mind in managing property expenses.
Median Lynn Tax Bill
$422
Median Lawrence County Tax Bill
$469
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Lynn, Lawrence County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72440 | $168 | $253 | $422 | $646 | $927 |
Source: Ownwell