Greenwood, Sebastian County, Arkansas Property Taxes

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

Median Greenwood, AR effective property tax rate: 0.98%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Greenwood, AR home value: $122,500
Median annual Greenwood, AR tax bill: $1,189, $1,211 lower than the national median property tax bill of $2,400.

How are property taxes in Sebastian County calculated?

Property taxes in Greenwood, 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 Greenwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Greenwood, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Greenwood, Sebastian County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.98%

Estimate Property Tax Bill

$1,201

$1,114

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

Property Tax Rates Across Greenwood, Sebastian County, Arkansas

Local government entities set tax rates, which can vary widely within a state. 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 Greenwood’s effective property tax rate to other cities in Arkansas and the median property tax rates in Arkansas and the U.S.

Property Tax Rates Across Greenwood, Sebastian County, Arkansas

Source: Ownwell

0.90%

1.00%

1.11%

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 Greenwood Tax Rate

0.98%

Median Effective Sebastian County Tax Rate

1.04%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Greenwood, Sebastian County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72936	0.74%	0.94%	0.98%	1.04%	1.04%

Source: Ownwell

Property Tax Assessment Values Across Greenwood, Sebastian County, Arkansas

When examining property taxes in Greenwood, 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 Sebastian 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 Sebastian 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 Greenwood. For example, the median home price in Greenwood is $122,500, with tax bills ranging significantly across the county. Zip code 72936 has the highest median home price at $122,500.

Property Tax Assessment Values Across Greenwood, Sebastian County, Arkansas

Source: Ownwell

$41,350

$117,283

$193,215

Median Greenwood Market Value

$122,500

Median Sebastian County Market Value

$104,400

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Greenwood, Sebastian County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72936	$47,865	$83,700	$122,500	$169,012	$236,335

Source: Ownwell

Property Tax Bills Across Greenwood, Sebastian County, Arkansas

In Greenwood, located in Sebastian County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Greenwood is $122,500. The property tax rate in this region is influenced by local government budgets and needs, which means the tax bill can vary significantly among homeowners. For instance, while some might see a tax bill as low as $785, others could face amounts as high as $2,315, depending on their property's assessed value and location. Compared to the national median property tax bill of $2,400, Greenwood's tax bills are generally more affordable. However, they still represent a significant expense for homeowners. Ownwell offers a solution by providing property tax appeal and exemption services to help homeowners potentially lower their tax bills. By analyzing property assessments and market trends, Ownwell identifies opportunities for tax reductions, ensuring that homeowners only pay their fair share, thus alleviating some of the financial burden.

Property Tax Bills Across Greenwood, Sebastian County, Arkansas

Source: Ownwell

$339

$1,122

$1,905

Median Greenwood Tax Bill

$1,189

Median Sebastian County Tax Bill

$994

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Greenwood, Sebastian County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72936	$442	$785	$1,189	$1,625	$2,315

Source: Ownwell