72727 Property Tax Rate

Property owners in ZIP code 72727 (Elkins, Arkansas) pay a median of $983/year in property taxes on homes valued at $191,900. This translates to an effective tax rate of 0.51%, which is 11% below the Arkansas state average of 0.58%.

The monthly property tax burden for a median-valued home in 72727 is approximately $82, which factors into escrow payments on mortgages. This ZIP code is located within Madison County. This is $248 more than the Arkansas average of $735/year.

Compared to similar ZIP codes in Arkansas, 72727 has higher property taxes. ZIP codes with similar effective rates include 72125 (0.51%) and 71973 (0.51%).

In Elkins, property taxes represent approximately 1.4% of the median household income of $71,705, providing context for the relative tax burden on homeowners in this area.

Arkansas has no statewide property tax cap; Madison County assessments are set based on fair market value and can adjust each year according to county appraisals. The Homestead Exemption reduces assessed value by $4,500 for primary residences — submit your application to the Madison County Assessor within 30 days of purchase. File your exemption claim early and request confirmation that the reduction appears on your Notice of Assessment.