Cotter, Arkansas Property Taxes
The median property tax rate in Cotter, AR is 0.65%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Cotter at $153,550, the typical annual property tax bill amounts to $1,016, well below the national median of $2,690. Property taxes in Cotter 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 Cotter'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 Cotter 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
Cotter, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$998
Ownwell’s Cotter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cotter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cotter 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 Cotter, Arkansas
Property taxes in Cotter, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cotter is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Cotter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cotter 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 Cotter's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72626 has the highest median property tax rate of 0.65%, while the lowest median tax rate is also 0.65% in the same zip code. Understanding how these cities compare with Cotter provides valuable insights into the varying tax landscape across Baxter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cotter Tax Rate
0.65%
Average Baxter County Tax Rate
0.65%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cotter, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72626 | 0.44% | 0.54% | 0.65% | 0.79% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Cotter, Arkansas
In Cotter, 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 Baxter County Appraisal District 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 Cotter, 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 Cotter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Cotter, the zip code with the highest median tax bill is 72626, with a median tax bill of $1016. The zip code with the lowest median tax bill is also 72626, with a median tax bill of $1016.
Average Cotter Assessed Value
$153,550
Average Baxter County Assessed Value
$137,150
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cotter, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72626 | $53,090 | $84,950 | $153,550 | $279,600 | $413,780 |
Source: Ownwell
Property Tax Bills Across Cotter, Arkansas
In Cotter, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Cotter is $153,550. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, in Baxter County, the tax rate results in a median tax bill of $1,016, which is lower than the national median property tax rate of 0.99%. Factors influencing the tax bill include the home's assessed value, applicable exemptions, and local government budget needs. Homeowners in Cotter can expect tax bills to vary significantly, with the 25th percentile at $540 and the 75th percentile reaching $1,668. The 90th percentile tax bill can go up to $2,500, indicating substantial variability based on property value and location within the city. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Cotter.
Average Cotter Tax Bill
$1,016
Average Baxter County Tax Bill
$862
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Cotter, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72626 | $316 | $540 | $1,016 | $1,668 | $2,500 |
Source: Ownwell