Cotton Plant, Monroe County, Arkansas Property Taxes

Name: Property Tax Bills Across Cotton Plant, Monroe County, Arkansas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median COTTON PLANT, AR effective property tax rate: 0.89%, significantly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median COTTON PLANT, AR home value: $60,200
Median annual COTTON PLANT, AR tax bill: $564, $1,836 lower than the national median property tax bill of $2,400.

How are property taxes in Monroe calculated?

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

Last Updated March 1, 2025

Cotton Plant, Monroe County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.89%

Estimate Property Tax Bill

$536

$497

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

Property Tax Rates Across Cotton Plant, Monroe County, Arkansas

Local government entities set property tax rates, which can vary significantly within a state. This variation is due to each county estimating its required budget to provide essential services and dividing that by the total assessed value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the essential annual process.

In Cotton Plant, located in Monroe County, Arkansas, the effective property tax rate reflects this process. Compared to other cities in Arkansas, Cotton Plant's rate aligns with the state's median tax rate of 0.89%. This is notably lower than the national median property tax rate of 1.02%. Residents of Cotton Plant benefit from this lower rate, which translates to more manageable property tax bills compared to the national median bill of $2400. By understanding these factors, property owners in Cotton Plant can appreciate how their local tax rates are determined and how they compare to broader state and national trends.

Property Tax Rates Across Cotton Plant, Monroe County, Arkansas

Source: Ownwell

0.83%

0.95%

1.07%

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 Cotton Plant Tax Rate

0.89%

Median Effective Monroe County Tax Rate

0.96%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Cotton Plant, Monroe County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72036	0.75%	0.88%	0.89%	0.89%	0.89%

Source: Ownwell

Property Tax Assessment Values Across Cotton Plant, Monroe County, Arkansas

When examining property taxes in Cotton Plant, 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 Monroe 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 Monroe 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 Cotton Plant. For example, the median home price in Cotton Plant is $60,200, with tax bills ranging significantly across the county. Zip code 72036 has the highest median home price at $60,200.

Property Tax Assessment Values Across Cotton Plant, Monroe County, Arkansas

Source: Ownwell

$31,100

$45,650

$60,200

Median Cotton Plant Market Value

$60,200

Median Monroe County Market Value

$34,500

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Cotton Plant, Monroe County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72036	$3,810	$37,825	$60,200	$91,725	$167,640

Source: Ownwell

Property Tax Bills Across Cotton Plant, Monroe County, Arkansas

In Cotton Plant, Monroe County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Property taxes are crucial for funding local services, but they can also pose a significant financial burden on homeowners. The median home price in Cotton Plant is $60,200, and the property tax bill varies significantly across different percentiles. For instance, the 25th percentile tax bill is $371, while the 75th percentile tax bill is $810. The highest median tax bill in the area is $564, which is below the national median property tax bill of $2,400. Despite these figures being relatively low compared to the national median, homeowners in Cotton Plant can still benefit from reducing their property tax obligations. Ownwell specializes in helping homeowners appeal their property tax assessments and secure exemptions, potentially leading to significant savings. By leveraging expert knowledge and local insights, Ownwell can assist homeowners in Cotton Plant in navigating the complexities of property tax laws to ensure they pay only their fair share.

Property Tax Bills Across Cotton Plant, Monroe County, Arkansas

Source: Ownwell

$278

$421

$564

Median Cotton Plant Tax Bill

$564

Median Monroe County Tax Bill

$356

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Cotton Plant, Monroe County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72036	$254	$371	$564	$810	$1,686

Source: Ownwell