Caddo Gap, Pike County, Arkansas Property Taxes

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, 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. Below, you can compare Caddo Gap’s effective property tax rate to other cities in Arkansas and the median property tax rates in Arkansas and the U.S.

Caddo Gap in Pike County has a median property tax rate of 0.77%. When compared to the national median property tax rate of 1.02%, Caddo Gap offers a more favorable tax environment. This lower tax rate can be appealing to property owners who are looking to minimize their annual expenses. Furthermore, when considering the national median property tax bill of $2,400, the potential savings in Caddo Gap become even more evident. The competitive property tax rate in Caddo Gap not only makes it an attractive location for current residents but also for prospective property buyers seeking financial advantages.

In Caddo Gap, located in Pike County, Arkansas, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of the market value. While the national median property tax rate stands at 1.02%, homeowners in Caddo Gap benefit from lower rates, resulting in a median property tax bill significantly below the national median of $2,400. For example, the tax bill at the 25th percentile is $423, and at the 75th percentile, it is $968, illustrating the favorable tax environment in this region.

Factors influencing the property tax bill include the home's assessed value, which may vary due to changes in market conditions or property improvements. These fluctuations directly impact the financial burden on homeowners. This is where Ownwell can make a difference. By offering property tax appeal and exemption services, Ownwell helps homeowners navigate the complexities of property assessments, ensuring they are not overpaying. This expert guidance can lead to substantial savings, providing financial relief and peace of mind.