71861 Property Tax Rate

Property owners in ZIP code 71861 (Taylor, Arkansas) pay a median of $671/year in property taxes on homes valued at $114,700. This translates to an effective tax rate of 0.58%, which is near the Arkansas state average of 0.58%.

The monthly property tax burden for a median-valued home in 71861 is approximately $56, which factors into escrow payments on mortgages. This ZIP code is located within Lafayette County.

Compared to similar ZIP codes in Arkansas, 71861 has lower property taxes. ZIP codes with similar effective rates include 72745 (0.58%) and 72365 (0.59%).

In Taylor, property taxes represent approximately 1.3% of the median household income of $50,588, providing context for the relative tax burden on homeowners in this area.

Arkansas has no state-level property tax cap; assessments are determined locally by county assessors and can increase annually without restriction. Lafayette County administers the Homestead Property Tax Credit for qualifying homeowners—verify your income eligibility with the Lafayette County Assessor's office. Contact the Lafayette County Assessor within 30 days of closing to submit your homestead exemption application.