Prescott, Ouachita County, Arkansas Property Taxes
Median Prescott, AR effective property tax rate: 0.85%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%. Median Prescott, AR home value: $15,050. Median annual Prescott, AR tax bill: $38, $2,362 lower than the national median property tax bill of $2,400.
How are property taxes in Ouachita County calculated?
Property taxes in Prescott, 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 Prescott’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Prescott, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Prescott, Ouachita County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.85%
Estimate Property Tax Bill
$128
$119
Property Tax Rates Across Prescott, Ouachita County, Arkansas
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 Prescott Tax Rate
0.85%
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 Ouachita County Tax Rate
0.85%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Prescott, Ouachita County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71857 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Prescott, Ouachita County, Arkansas
When examining property taxes in Prescott, 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 Ouachita 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 Ouachita 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 Prescott. For example, the median home price in Prescott is $15,050, with tax bills ranging significantly across the county. Zip code 71857 has the highest median home price at $15,050.
Property Tax Assessment Values Across Prescott, Ouachita County, Arkansas
Source: Ownwell
$15,050
$36,800
$58,550
Median Prescott Market Value
$15,050
Median Ouachita County Market Value
$39,000
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Prescott, Ouachita County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71857 | $1,795 | $5,575 | $15,050 | $24,662 | $26,005 |
Source: Ownwell
Property Tax Bills Across Prescott, Ouachita County, Arkansas
In Prescott, located in Ouachita County, Arkansas, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate, applied to this assessed value, determines the annual property tax bill. For homeowners in Prescott, the tax bill can vary significantly. While the 25th percentile of tax bills is just $16, it rises to $67 at the 75th percentile and reaches $146 at the 90th percentile. In comparison, the national median property tax rate is 1.02%, with a median bill of $2,400, indicating that Prescott homeowners generally face lower property taxes.
Factors such as property improvements and local government budgets can influence these tax bills. For homeowners seeking relief, Ownwell offers expert property tax appeal and exemption services. By analyzing individual property assessments and identifying potential discrepancies, Ownwell helps homeowners reduce their tax burdens, ensuring they pay only their fair share. This service can lead to significant savings, providing financial relief and peace of mind for Prescott residents.
Median Prescott Tax Bill
$38
Median Ouachita County Tax Bill
$254
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Prescott, Ouachita County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71857 | $12 | $16 | $38 | $67 | $146 |
Source: Ownwell