Arkansas vs Minnesota
Property‑Tax Comparison: Arkansas vs. Minnesota
Brief overview
Both Arkansas and Minnesota levy property taxes that fund local services such as schools, roads, and public safety. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Arkansas’s effective property‑tax rate is 0.57 %, while Minnesota’s is 1.04 %. The difference in rates translates into lower annual property‑tax bills for comparable home values in Arkansas.
Side‑by‑side metrics
| Metric | Arkansas | Minnesota |
|---|---|---|
| Effective property‑tax rate | 0.57 % | 1.04 % |
| Median home value | $175,300 | $305,500 |
| Median annual property tax | $1,003 | $3,184 |
| Property tax on a $250,000 home | $1,431 | $2,606 |
| Property tax on a $500,000 home | $2,861 | $5,211 |
| Median household income | $58,773 | $87,556 |
| Internal link | Arkansas property tax | Minnesota property tax |
All figures are drawn from the U.S. Census Bureau’s 2023 ACS 5‑year estimates.
Which state has the lower tax burden?
- Winner (lower effective rate): Arkansas
- Rate difference: 0.47 % points, which is a 45.10 % relative difference (Arkansas rate is about 45 % lower than Minnesota’s).
- Annual tax difference on a $250,000 home: $1,175 less in Arkansas.
- Annual tax difference on a $500,000 home: $2,350 less in Arkansas.
Why Arkansas wins
The lower effective property‑tax rate in Arkansas directly reduces the amount of tax owed on a given property value. Consequently, for both the $250 k and $500 k examples, the Arkansas tax bill is roughly half of the Minnesota bill.
Who is this comparison most relevant for?
| Audience | Relevance |
|---|---|
| Current or prospective homeowners | Understanding the ongoing cost of owning a home in each state. |
| Home‑buyers with a fixed budget | Lower tax rates may expand affordable‑home options, especially in Arkansas. |
| Retirees and fixed‑income households | Property‑tax burden can affect disposable income; Arkansas’s lower rates may be advantageous. |
| Real‑estate investors | Tax liability influences cash‑flow projections; the rate differential is a measurable factor. |
| Policy analysts | The data illustrate how state‑level tax structures vary and impact household finances. |
All statements are based on factual data from the 2023 ACS; no subjective judgments or marketing language are included.
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Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.