72032 Property Tax Rate

Property owners in ZIP code 72032 (Conway, Arkansas) pay a median of $1,057/year in property taxes on homes valued at $183,200. 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 72032 is approximately $88, which factors into escrow payments on mortgages. This ZIP code is located within Faulkner County. This is $322 more than the Arkansas average of $735/year.

Compared to similar ZIP codes in Arkansas, 72032 has higher property taxes. ZIP codes with similar effective rates include 72704 (0.58%) and 71667 (0.58%).

In Conway, property taxes represent approximately 1.7% of the median household income of $61,452, providing context for the relative tax burden on homeowners in this area.

Arkansas has no statewide assessment cap; the Faulkner County Assessor will reassess your home to market value upon purchase, establishing a new tax base. Homeowners 65+ and those with disabilities qualify for the Homestead Property Tax Relief exemption, which reduces assessed value — submit your application to the Faulkner County Assessor within 30 days of closing. Obtain a copy of the property's most recent assessment from the Faulkner County Assessor to project your post-purchase tax liability accurately.