Arkansas vs Wyoming
Property‑Tax Comparison: Arkansas vs. Wyoming
Intro
Both Arkansas and Wyoming 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), the two states have very similar effective property‑tax rates, but the underlying home values and household incomes differ. This article presents a side‑by‑side view of the key metrics, identifies which state has the lower tax burden, and outlines the groups for whom the comparison may be most relevant.
Side‑by‑Side Metrics
| Metric | Arkansas | Wyoming |
|---|---|---|
| Effective property‑tax rate | 0.57 % | 0.58 % |
| Median home value | $175,300 | $285,100 |
| Median annual property tax | $1,003 | $1,659 |
| Tax on a $250,000 home | $1,431 | $1,455 |
| Tax on a $500,000 home | $2,861 | $2,909 |
| Median household income | $58,773 | $74,815 |
| Source | Arkansas property tax | Wyoming property tax |
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which State “Wins” on Property Tax?
- Winner (lower tax rate): Arkansas
- Rate difference: 0.01 percentage point (Arkansas 0.57 % vs. Wyoming 0.58 %). This represents a 1.67 % relative difference.
- Annual tax difference on a $250 k home: $24 (Arkansas $1,431 vs. Wyoming $1,455).
- Annual tax difference on a $500 k home: $48 (Arkansas $2,861 vs. Wyoming $2,909).
Why Arkansas wins
The determination is based solely on the effective property‑tax rate, which is the ratio of annual property tax to home value. Arkansas’s rate of 0.57 % is marginally lower than Wyoming’s 0.58 %, resulting in slightly smaller tax bills for comparable home values. Because the rate, not the absolute dollar amount, is the standard measure for comparing property‑tax burdens across jurisdictions, Arkansas is considered the lower‑tax state in this context.
Who Is This Comparison Most Useful For?
| Audience | Relevance of the Data |
|---|---|
| Current or prospective homeowners | Understanding the ongoing tax cost of owning a home in each state, especially when budgeting for properties around $250 k–$500 k. |
| Retirees | Property taxes affect fixed‑income budgets; the modest rate difference may influence the choice of state for long‑term residence. |
| Real‑estate investors | Effective tax rates impact cash‑flow projections; investors can use the rate comparison to assess operating expenses. |
| Policy analysts / researchers | The side‑by‑side ACS data provide a baseline for evaluating fiscal policy and its interaction with home‑value markets. |
The comparison does not account for other factors that may affect overall affordability, such as state income taxes, sales taxes, cost of living, or local service levels. Readers should consider those additional variables when making relocation or investment decisions.
Summary
Based on the most recent ACS estimates, Arkansas has a slightly lower effective property‑tax rate (0.57 %) than Wyoming (0.58 %). The resulting dollar‑amount differences are modest—$24 per year on a $250 k home and $48 per year on a $500 k home. While the tax rate advantage favors Arkansas, the broader financial picture for homeowners, retirees, and investors also depends on median home values, household incomes, and other state‑level taxes.
All data are from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
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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.