Portia, Lawrence County, Arkansas Property Taxes
Median Portia, AR effective property tax rate: 0.50%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Portia, AR home value: $67,470
Median annual Portia, AR tax bill: $323, $2,077 lower than the national median property tax bill of $2,400.
How are property taxes in Lawrence County calculated?
Property taxes in Portia, 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 Portia’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Portia, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Portia, Lawrence County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.5%
Estimate Property Tax Bill
$337
$313
Property Tax Rates Across Portia, Lawrence County, Arkansas
Local government entities set property tax rates, which can vary significantly within Arkansas. Each county estimates its annual budget to provide essential services and divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the basic annual process.
In Portia, located in Lawrence County, the effective property tax rate stands at 0.50%, which is considerably lower than the national median of 1.02%. This rate is consistent with the highest and lowest median tax rates within the county, both recorded at 0.50%. Compared to other cities in Arkansas, Portia's property tax rate offers a significant advantage for property owners, as it results in lower tax bills, particularly when contrasted with the national median property tax bill of $2,400. This makes Portia an attractive option for those looking to benefit from reduced property tax expenses while still enjoying the services funded by these taxes.
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 Portia Tax Rate
0.50%
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 Portia, Lawrence County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72457 | 0.38% | 0.46% | 0.50% | 0.54% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Portia, Lawrence County, Arkansas
When examining property taxes in Portia, 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 Portia.
For example, the median home price in Portia is $67,470, with tax bills ranging significantly across the county. Zip code 72457 has the highest median home price at $67,470.
Property Tax Assessment Values Across Portia, Lawrence County, Arkansas
Source: Ownwell
$37,178
$67,033
$96,888
Median Portia Market Value
$67,470
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 Portia, Lawrence County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72457 | $15,874 | $43,920 | $67,470 | $87,700 | $118,666 |
Source: Ownwell
Property Tax Bills Across Portia, Lawrence County, Arkansas
In Portia, Lawrence 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 Portia is $67,470, and property tax bills can vary widely. For example, the 25th percentile tax bill is $240, while the 75th percentile tax bill is $420. These figures highlight the range of tax burdens homeowners might face. The highest and lowest median tax bills in the area are both $323, indicating a consistent tax rate across different properties within the same zip code.
Property tax bills impact homeowners significantly, affecting monthly budgets and overall financial planning. With the national median property tax bill at $2,400, Portia's tax bills are relatively lower, yet they still represent a substantial expense for many homeowners. Ownwell can assist homeowners by providing property tax appeal and exemption services, potentially reducing their tax burden. By analyzing the assessed value and ensuring it's accurate, Ownwell helps homeowners save on their property taxes, offering peace of mind and financial relief.
Median Portia Tax Bill
$323
Median Lawrence County Tax Bill
$469
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Portia, Lawrence County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72457 | $112 | $240 | $323 | $420 | $646 |
Source: Ownwell