Marvell, Monroe County, Arkansas Property Taxes
Median Marvell, Arkansas effective property tax rate: 0.83%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Marvell, Arkansas home value: $37,950
Median annual Marvell, Arkansas tax bill: $314, $2,086 lower than the national median property tax bill of $2,400.
How are property taxes in Monroe County calculated?
Property taxes in Marvell, Arkansas 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 Marvell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Marvell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Marvell, Monroe County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.83%
Estimate Property Tax Bill
$342
$317
Property Tax Rates Across Marvell, Monroe County, Arkansas
Local government entities set property 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 Marvell, located in Monroe County, Arkansas, the effective property tax rate is 0.83%. This is below the national median property tax rate of 1.02%, making it an attractive location for property owners seeking lower tax burdens. The property tax rate in Marvell is also consistent with the median rate for the state of Arkansas, offering a predictable tax environment for residents.
When comparing Marvell's rate to other cities in Arkansas and the U.S., property owners can appreciate the relative affordability. The lower rate can translate to significant savings over time, making Marvell a potentially appealing choice for both current and prospective homeowners.
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 Marvell Tax Rate
0.83%
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 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 Marvell, Monroe County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72366 | 0.73% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Marvell, Monroe County, Arkansas
When examining property taxes in Marvell, 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 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 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 Marvell.
For example, the median home price in Marvell is $37,950, with tax bills ranging significantly across the county. Zip code 72366 has the highest median home price at $37,950.
Property Tax Assessment Values Across Marvell, Monroe County, Arkansas
Source: Ownwell
$31,525
$45,863
$60,200
Median Marvell Market Value
$41,200
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 Marvell, Monroe County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72366 | $22,850 | $27,150 | $41,200 | $76,575 | $245,150 |
Source: Ownwell
Property Tax Bills Across Marvell, Monroe County, Arkansas
Median Marvell Tax Bill
$305
Median Monroe County Tax Bill
$265
Median Arkansas Tax Bill
$870
Median United States Tax Bill
$2,400
Property Tax Bills Across Marvell, Monroe County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72366 | $189 | $225 | $305 | $430 | $2,033 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
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| Appeal Deadline | August 17 |
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