72531 Property Tax Rate

Property owners in ZIP code 72531 (Elizabeth, Arkansas) pay a median of $800/year in property taxes on homes valued at $140,700. This translates to an effective tax rate of 0.57%, which is near the Arkansas state average of 0.58%.

The monthly property tax burden for a median-valued home in 72531 is approximately $67, which factors into escrow payments on mortgages. This ZIP code is located within Fulton County.

Compared to similar ZIP codes in Arkansas, 72531 has higher property taxes. ZIP codes with similar effective rates include 72002 (0.57%) and 71630 (0.57%).

In Elizabeth, property taxes represent approximately 1.4% of the median household income of $59,091, providing context for the relative tax burden on homeowners in this area.

Arkansas has no statewide property tax cap; Fulton County assessments are set based on market value and may increase annually as local property valuations change. The Homestead Exemption reduces assessed value by $4,500 for owner-occupied primary residences — submit your application to the Fulton County Assessor right after closing. Obtain a copy of your Notice of Assessment and confirm the exemption was applied before your first tax bill arrives.