Arkansas vs Virginia
Property‑Tax Comparison: Arkansas vs. Virginia
Intro
Both Arkansas and Virginia 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 lower than Virginia’s, resulting in lower annual tax payments for comparable home values.
Side‑by‑side metrics
| Metric | Arkansas | Virginia |
|---|---|---|
| Effective property‑tax rate | 0.57 % | 0.74 % |
| Median home value | $175,300 | $360,700 |
| Median annual property tax | $1,003 | $2,686 |
| Property tax on a $250,000 home | $1,431 | $1,862 |
| Property tax on a $500,000 home | $2,861 | $3,724 |
| Median household income | $58,773 | $90,974 |
Sources: Arkansas property tax and Virginia property tax. Data from the U.S. Census Bureau's 2023 ACS (5‑year).
Which state “wins” on property tax?
Winner (lower tax rate): Arkansas
- Effective tax‑rate difference: 0.17 % (Arkansas is 23.16 % lower than Virginia).
- Annual tax difference for a $250,000 home: $431 less in Arkansas.
- Annual tax difference for a $500,000 home: $863 less in Arkansas.
The lower effective rate in Arkansas directly translates to reduced annual tax bills for homeowners at any price point, assuming all other factors (assessment practices, exemptions, etc.) are comparable.
Who benefits most from this comparison?
| Audience | Relevance of the comparison |
|---|---|
| Current or prospective homeowners | Lower annual tax outlays in Arkansas can increase affordability, especially for buyers of median‑priced homes. |
| Retirees on fixed incomes | Reduced property‑tax obligations may make Arkansas a more budget‑friendly option for retirees seeking lower recurring expenses. |
| Real‑estate investors | Lower tax rates improve cash‑flow projections for rental properties in Arkansas versus Virginia. |
| Households evaluating overall cost of living | Property tax is one component of total living costs; Arkansas also has a lower median household income, which may offset some tax savings. |
The data presented are purely descriptive; individual tax liabilities can vary based on local millage rates, assessment cycles, and applicable exemptions (e.g., homestead or senior exemptions).
Summary
Based on the most recent ACS estimates, Arkansas’s effective property‑tax rate of 0.57 % is lower than Virginia’s 0.74 %, making Arkansas the lower‑tax option for property owners. The difference amounts to roughly $430–$860 in annual savings for homes valued at $250 k–$500 k. Stakeholders such as homebuyers, retirees, and investors can use these figures to assess the relative tax burden when comparing the two states.
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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.