Altheimer, Arkansas Property Taxes
The median property tax rate in Altheimer, AR is 0.79%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Altheimer, the typical annual property tax bill reaches $700, significantly below the national median of $2,690. Property taxes in Altheimer are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Altheimer's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Altheimer or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Altheimer, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$708
Ownwell’s Altheimer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Altheimer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Altheimer to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Altheimer, Arkansas
Property taxes in Altheimer, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Altheimer is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Altheimer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Altheimer estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Altheimer's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72004 has both the highest and the lowest median property tax rate of 0.79%. Understanding how these cities compare with Altheimer provides valuable insights into the varying tax landscape across Arkansas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Altheimer Tax Rate
0.79%
Average Arkansas County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Altheimer, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72004 | 0.56% | 0.68% | 0.79% | 0.83% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Altheimer, Arkansas
In Altheimer, Arkansas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Arkansas County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Altheimer, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Altheimer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Altheimer is $89,672, with the 25th percentile tax bill at $355 and the 75th percentile tax bill at $899. The highest and lowest median tax bills, both at $700, are found in the 72004 zip code.
Average Altheimer Assessed Value
$89,672
Average Arkansas County Assessed Value
$70,958
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Altheimer, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72004 | $27,893 | $44,986 | $89,672 | $119,195 | $152,740 |
Source: Ownwell
Property Tax Bills Across Altheimer, Arkansas
In Altheimer, Arkansas, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Altheimer is $89,672. Property taxes in this region are relatively low compared to the national median property tax rate of 0.99%. The assessed value is determined by local tax assessors who consider various factors, including the property's size, location, and condition. Homeowners in Altheimer can expect their tax bills to vary significantly. The 25th percentile tax bill is around $355, while the 75th percentile tax bill reaches up to $899. The 90th percentile tax bill can go as high as $1,159. These variations are influenced by the specific characteristics of each property and any applicable exemptions or deductions. Understanding how property tax bills are determined helps homeowners in Altheimer plan their finances better. Lower property taxes can make homeownership more affordable, but it’s essential to stay informed about potential changes in assessed values and tax rates.
Average Altheimer Tax Bill
$700
Average Arkansas County Tax Bill
$414
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Altheimer, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72004 | $170 | $355 | $700 | $899 | $1,159 |
Source: Ownwell