Holly Grove, Monroe County, Arkansas Property Taxes

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

Median Holly Grove, AR effective property tax rate: 0.96%, significantly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Holly Grove, AR home value: $41,500
Median annual Holly Grove, AR tax bill: $410, $1,990 lower than the national median property tax bill of $2,400.

How are property taxes in Monroe County calculated?

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

Last Updated March 1, 2025

Holly Grove, Monroe County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.96%

Estimate Property Tax Bill

$405

$376

Ownwell’s Holly Grove Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Holly Grove with just two data points. By entering your property's estimated assessed value, our calculator applies Holly Grove’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 Holly Grove, Monroe County, Arkansas

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In Holly Grove, located in Monroe County, Arkansas, the effective property tax rate aligns closely with the state's median of 0.96%, which is slightly below the national median of 1.02%. This can be beneficial for property owners in Holly Grove, as it indicates a relatively lower property tax burden compared to many other areas across the country. However, it's important to note that property tax rates can vary significantly even within the same state, influenced by local government decisions and budgetary needs. Understanding these rates is crucial for homeowners seeking to manage their expenses effectively. Comparing Holly Grove’s effective property tax rate to other cities in Arkansas and the U.S. can provide valuable insights into the local tax landscape and help property owners make informed decisions.

Property Tax Rates Across Holly Grove, Monroe County, Arkansas

Source: Ownwell

0.83%

0.89%

0.96%

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 Holly Grove Tax Rate

0.96%

Median Effective Monroe County Tax Rate

0.96%

Median Effective Arkansas Tax Rate

0.81%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Holly Grove, Monroe County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72069	0.31%	0.85%	0.96%	0.96%	1.07%

Source: Ownwell

Property Tax Assessment Values Across Holly Grove, Monroe County, Arkansas

When examining property taxes in Holly Grove, 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. Assessment notices in Monroe County 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 Holly Grove. For example, the median home price in Holly Grove is $41,500, with tax bills ranging significantly across the county. Zip code 72069 has the highest median home price at $41,500.

Property Tax Assessment Values Across Holly Grove, Monroe County, Arkansas

Source: Ownwell

$31,525

$45,863

$60,200

Median Holly Grove Market Value

$42,175

Median Monroe County Market Value

$34,950

Median Arkansas Market Value

$118,750

Median United States Market Value

$235,294

Property Tax Assessment Values Across Holly Grove, Monroe County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72069	$7,300	$20,250	$42,175	$80,412	$133,300

Source: Ownwell

Property Tax Bills Across Holly Grove, Monroe County, Arkansas

In Holly Grove, Monroe County, AR, property tax bills are calculated based on the assessed value of a home, which is a fraction of its market value. The local tax rate is applied to this assessed value to determine the tax bill. With a median home price of $41,500, homeowners in Holly Grove see tax bills that vary widely. For instance, bills range from $216 at the 25th percentile to $1,292 at the 90th percentile. The median tax bill in the area is $410, which is significantly lower than the national median of $2,400. However, even with lower tax bills, homeowners may still feel the financial impact, especially if their property is assessed at the higher end of the spectrum. This is where Ownwell's expertise can be invaluable. By providing professional property tax appeal and exemption services, Ownwell helps homeowners ensure their property is fairly assessed, potentially lowering their tax bills and offering significant savings.

Property Tax Bills Across Holly Grove, Monroe County, Arkansas

Source: Ownwell

$192

$340

$487

Median Holly Grove Tax Bill

$328

Median Monroe County Tax Bill

$265

Median Arkansas Tax Bill

$870

Median United States Tax Bill

$2,400

Property Tax Bills Across Holly Grove, Monroe County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72069	$69	$171	$328	$647	$1,228

Source: Ownwell