Bassett, Mississippi County, Arkansas Property Taxes
Median Bassett, AR effective property tax rate: 0.66%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Bassett, AR home value: $63,420
Median annual Bassett, AR tax bill: $334, $2,066 lower than the national median property tax bill of $2,400.
How are property taxes in Mississippi County calculated?
Property taxes in Bassett, 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 Bassett’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bassett, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bassett, Mississippi County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.66%
Estimate Property Tax Bill
$419
$388
Property Tax Rates Across Bassett, Mississippi County, Arkansas
Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting these rates and budgets, this is the annual process in a nutshell.
In Bassett, located in Mississippi County, the effective property tax rate is 0.66%. This is significantly lower than the national median property tax rate of 1.02%. Despite being the highest and lowest median tax rate within the zip code 72313, it remains below both the state and national medians. This lower rate can result in considerable savings for property owners compared to other regions.
The lower property tax rate in Bassett not only makes it an attractive location for potential homeowners but also highlights the importance of understanding local tax rates when considering property investments. By consulting with experts, property owners can ensure they are not overpaying and can take advantage of any available exemptions or appeals.
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 Bassett Tax Rate
0.66%
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 Mississippi County Tax Rate
0.86%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bassett, Mississippi County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72313 | 0.38% | 0.51% | 0.66% | 0.91% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Bassett, Mississippi County, Arkansas
When examining property taxes in Bassett, 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 Mississippi 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 Mississippi County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Bassett.
For example, the median home price in Bassett is $63,420, with tax bills ranging significantly across the county. Zip code 72313 has the highest median home price at $63,420.
Property Tax Assessment Values Across Bassett, Mississippi County, Arkansas
Source: Ownwell
$28,060
$119,774
$211,488
Median Bassett Market Value
$63,420
Median Mississippi County Market Value
$66,110
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bassett, Mississippi County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72313 | $14,300 | $44,295 | $63,420 | $100,195 | $170,411 |
Source: Ownwell
Property Tax Bills Across Bassett, Mississippi County, Arkansas
In Bassett, Mississippi 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 Bassett stands at $63,420. Homeowners in this area typically see a property tax bill ranging from $234 at the 25th percentile to $1,388 at the 90th percentile. With the national median property tax rate at 1.02% and a typical bill of $2,400, Bassett's property tax bills are relatively lower, reflecting the region's more affordable housing market.
Several factors influence the tax bill, including changes in assessed value and any applicable exemptions. Homeowners can feel the financial impact, especially when property values rise, leading to higher tax obligations. This is where Ownwell steps in. By providing expert property tax appeal services, Ownwell helps homeowners potentially lower their tax bills, ensuring they only pay their fair share. With a focus on maximizing savings, Ownwell is committed to helping homeowners navigate the complexities of property taxation effectively.
Median Bassett Tax Bill
$334
Median Mississippi County Tax Bill
$527
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Bassett, Mississippi County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72313 | $85 | $234 | $334 | $624 | $1,388 |
Source: Ownwell