72950 Property Tax Rate

Property owners in ZIP code 72950 (Parks, Arkansas) pay a median of $844/year in property taxes on homes valued at $127,800. This translates to an effective tax rate of 0.66%, which is 15% above the Arkansas state average of 0.58%.

The monthly property tax burden for a median-valued home in 72950 is approximately $70, which factors into escrow payments on mortgages. This ZIP code is located within Scott County.

Compared to similar ZIP codes in Arkansas, 72950 has higher property taxes. ZIP codes with similar effective rates include 72076 (0.66%) and 72719 (0.66%).

In Parks, property taxes represent approximately 1.7% of the median household income of $48,920, providing context for the relative tax burden on homeowners in this area.

Arkansas has no statewide property tax cap; Scott County assessments are set based on current market value and may adjust annually according to county appraisals. The Homestead Exemption exempts $4,500 of assessed value for owner-occupied homes — apply to the Scott County Assessor immediately after closing to record the exemption. Request your Notice of Assessment to verify the exemption is reflected and the appraised value is correct.