72661 Property Tax Rate

Property owners in ZIP code 72661 (Oakland, Arkansas) pay a median of $844/year in property taxes on homes valued at $150,900. This translates to an effective tax rate of 0.56%, which is near the Arkansas state average of 0.58%.

The monthly property tax burden for a median-valued home in 72661 is approximately $70, which factors into escrow payments on mortgages. This ZIP code is located within Marion County.

Compared to similar ZIP codes in Arkansas, 72661 has higher property taxes. ZIP codes with similar effective rates include 72129 (0.56%) and 71842 (0.56%).

In Oakland, property taxes represent approximately 2.7% of the median household income of $31,211, providing context for the relative tax burden on homeowners in this area.

Arkansas has no statewide property tax cap; Marion County assessments are determined by market value and may rise each year as property values are reassessed. The Homestead Exemption reduces assessed value by $4,500 for primary residences — submit your application to the Marion County Assessor within 30 days of taking ownership. Contact the assessor to confirm your exemption status and verify your Notice of Assessment reflects the correct reduction.