Eureka Springs, Madison County, Arkansas Property Taxes

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

Median Eureka Springs, AR effective property tax rate: 0.76%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Eureka Springs, AR home value: $168,800
Median annual Eureka Springs, AR tax bill: $1,396, $1,004 lower than the national median property tax bill of $2,400.

How are property taxes in Madison County calculated?

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

Last Updated March 1, 2025

Eureka Springs, Madison County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.76%

Estimate Property Tax Bill

$1,283

$1,190

Ownwell’s Eureka Springs Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Eureka Springs with just two data points. By entering your property's estimated assessed value, our calculator applies Eureka Springs’ 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 Madison County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Eureka Springs, Madison County, Arkansas

Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation arises because each county annually estimates the budget needed to provide essential services and divides it by the total assessed 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 fundamental annual process. Comparing Eureka Springs’ effective property tax rate to other cities in Arkansas, as well as the median property tax rates in Arkansas and the U.S., provides valuable insight. Eureka Springs, located in Carroll County, has a median tax rate of 0.76%, which is below the national median property tax rate of 1.02%. This means residents generally pay less in property taxes compared to the national average. Understanding these differences can help property owners make informed decisions about their investments.

Property Tax Rates Across Eureka Springs, Madison County, Arkansas

Source: Ownwell

0.62%

0.77%

0.91%

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 Eureka Springs Tax Rate

0.76%

Median Effective Madison County Tax Rate

0.68%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Eureka Springs, Madison County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72632	0.43%	0.61%	0.76%	0.90%	0.90%

Source: Ownwell

Property Tax Assessment Values Across Eureka Springs, Madison County, Arkansas

When examining property taxes in Eureka Springs, 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 Madison 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 Madison 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 Eureka Springs. For example, the median home price in Eureka Springs is $168,800, with tax bills ranging significantly across the county. Zip code 72632 has the highest median home price at $168,800.

Property Tax Assessment Values Across Eureka Springs, Madison County, Arkansas

Source: Ownwell

$52,325

$110,563

$168,800

Median Eureka Springs Market Value

$168,800

Median Madison County Market Value

$78,900

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Eureka Springs, Madison County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72632	$110,400	$121,275	$168,800	$285,700	$386,800

Source: Ownwell

Property Tax Bills Across Eureka Springs, Madison County, Arkansas

In Eureka Springs, Arkansas, property tax bills are determined by assessing the property's market value and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the tax bill. Factors such as property size, location, and improvements can influence the assessed value, ultimately affecting the tax bill. With a median property tax bill of $1,396, Eureka Springs stands below the national median of $2,400, making it relatively affordable for homeowners. However, tax bills can vary significantly, with the 25th percentile at $757 and the 90th percentile reaching up to $3,056.

Ownwell assists homeowners by identifying potential savings on their property tax bills. Through a detailed analysis of property assessments and market conditions, Ownwell can uncover discrepancies or overvaluations that may lead to higher taxes. By filing appeals and seeking exemptions, Ownwell helps ensure homeowners in Eureka Springs pay only their fair share, potentially saving hundreds or even thousands in property taxes.

Property Tax Bills Across Eureka Springs, Madison County, Arkansas

Source: Ownwell

$329

$863

$1,396

Median Eureka Springs Tax Bill

$1,396

Median Madison County Tax Bill

$463

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Eureka Springs, Madison County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72632	$464	$757	$1,396	$2,113	$3,056

Source: Ownwell