72120 Property Tax Rate

Property owners in ZIP code 72120 (Sherwood, Arkansas) pay a median of $1,400/year in property taxes on homes valued at $189,400. This translates to an effective tax rate of 0.74%, which is 28% above the Arkansas state average of 0.58%.

The monthly property tax burden for a median-valued home in 72120 is approximately $117, which factors into escrow payments on mortgages. This ZIP code is located within Pulaski County. This is $665 more than the Arkansas average of $735/year.

Compared to similar ZIP codes in Arkansas, 72120 has higher property taxes. ZIP codes with similar effective rates include 72350 (0.74%) and 72908 (0.74%).

In Sherwood, property taxes represent approximately 1.8% of the median household income of $75,853, providing context for the relative tax burden on homeowners in this area.

Arkansas has no statewide assessment cap; the Pulaski County Assessor will reassess your property to market value when you purchase, creating a new tax base. Homeowners 65+ and disabled residents qualify for the Homestead Property Tax Relief program, which reduces assessed value — file your application with the Pulaski County Assessor within 30 days of closing. Review the reassessment notice from the Pulaski County Assessor and file a formal appeal within 30 days if you dispute the valuation.