Lambrook, Phillips County, Arkansas Property Taxes

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

Median Lambrook, AR effective property tax rate: 0.14%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%. Median Lambrook, AR home value: $146,150. Median annual Lambrook, AR tax bill: $207, $2,193 lower than the national median property tax bill of $2,400. How are property taxes in Phillips County calculated? Property taxes in Lambrook, 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 Lambrook’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lambrook, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lambrook, Phillips County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.14%

Estimate Property Tax Bill

$205

$190

Ownwell’s Lambrook Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lambrook with just two data points. By entering your property's estimated assessed value, our calculator applies Lambrook’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Phillips 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 Phillips County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lambrook, Phillips County, Arkansas

Local government entities in Arkansas, including those in Phillips County, are responsible for setting property tax rates, which can differ significantly across the state. Each year, counties calculate their required budget to provide essential services and divide it by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While this process involves votes and laws, it essentially boils down to this annual calculation. In Lambrook, located in Phillips County, the effective property tax rate is a reflection of this process, and it provides a basis for comparison with other cities in Arkansas. The median property tax rate in Arkansas is notably lower than the national median of 1.02%. This means that homeowners in Lambrook are likely to experience lower property tax bills compared to the national median property tax bill of $2,400. Understanding these differences can help property owners make informed decisions about their investments and financial planning.

Property Tax Rates Across Lambrook, Phillips County, Arkansas

Source: Ownwell

0.79%

1.00%

1.21%

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 Lambrook Tax Rate

0.14%

Median Effective Phillips County Tax Rate

0.97%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lambrook, Phillips County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72353	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Lambrook, Phillips County, Arkansas

When examining property taxes in Lambrook, 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 Phillips 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 Phillips County, assessment notices 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 Lambrook. For example, the median home price in Lambrook is $146,150, with tax bills consistently around $207 across the county.

Property Tax Assessment Values Across Lambrook, Phillips County, Arkansas

Source: Ownwell

$27,675

$36,913

$46,150

Median Lambrook Market Value

$146,150

Median Phillips County Market Value

$31,950

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lambrook, Phillips County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72353	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Lambrook, Phillips County, Arkansas

In Lambrook, located in Phillips County, AR, property tax bills are determined based on the assessed value of a home, which is a percentage of the property's market value. The median home price in Lambrook is $146,150. Property tax rates in this area can significantly affect homeowners, with the tax bill for the 25th, 75th, and 90th percentiles all standing at $207. This is considerably lower than the national median property tax bill of $2,400, offering some relief to homeowners in Lambrook. However, understanding and navigating property tax assessments can be complex. Ownwell assists homeowners by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies or opportunities for exemptions, Ownwell helps reduce the financial burden on homeowners. This personalized service ensures that property tax bills are fair and accurate, potentially saving homeowners money and providing peace of mind in managing their property expenses.

Property Tax Bills Across Lambrook, Phillips County, Arkansas

Source: Ownwell

$240

$339

$437

Median Lambrook Tax Bill

$207

Median Phillips County Tax Bill

$283

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Lambrook, Phillips County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72353	N/A	N/A	N/A	N/A	N/A

Source: Ownwell