Parks, Scott County, Arkansas Property Taxes
Median Parks, AR effective property tax rate: 0.77%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Parks, AR home value: $47,800
Median annual Parks, AR tax bill: $353, $2,047 lower than the national median property tax bill of $2,400.
How are property taxes in Scott calculated?
Property taxes in Parks, 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 Parks’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Parks, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Parks, Scott County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.77%
Estimate Property Tax Bill
$368
$342
Property Tax Rates Across Parks, Scott County, Arkansas
Local government entities in Arkansas, like elsewhere, set tax rates that can vary significantly within the state. Each year, Scott County estimates its required budget for public services and divides this by the total value of all taxable property within its jurisdiction, resulting 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 Parks, located in Scott County, the effective property tax rate is 0.77%, which is below both the state and national medians. This offers an appealing advantage for property owners in Parks, as they benefit from lower property tax bills compared to the national median of 1.02%. This lower tax rate can make homeownership more affordable and attractive in Parks, especially when compared to other areas in Arkansas and across the country. The tax rate in Parks is consistent with the highest and lowest rates within its zip code, highlighting a stable and predictable tax environment for residents.
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 Parks Tax Rate
0.77%
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 Scott County Tax Rate
0.77%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Parks, Scott County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72950 | 0.58% | 0.76% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Parks, Scott County, Arkansas
When examining property taxes in Parks, 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 Scott 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 Scott 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 Parks.
For example, the median home price in Parks is $47,800, with tax bills ranging significantly across the county. Zip code 72950 has the highest median home price at $47,800.
Property Tax Assessment Values Across Parks, Scott County, Arkansas
Source: Ownwell
$31,450
$45,613
$59,775
Median Parks Market Value
$47,800
Median Scott County Market Value
$49,950
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Parks, Scott County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72950 | $6,650 | $22,600 | $47,800 | $78,600 | $115,550 |
Source: Ownwell
Property Tax Bills Across Parks, Scott County, Arkansas
Median Parks Tax Bill
$353
Median Scott County Tax Bill
$385
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Parks, Scott County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72950 | $70 | $171 | $353 | $584 | $887 |
Source: Ownwell