Salesville, Arkansas Property Taxes
The median property tax rate in Salesville, AR is 0.99%, aligning with the national median but higher than Arkansas's state median of 0.84%. With a median home value of $87,000 in Salesville, the typical annual property tax bill is around $940, which is substantially lower than the national median of $2,690. Property taxes in Salesville are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Salesville'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 Salesville 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
Salesville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$861
Ownwell’s Salesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salesville 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 Salesville, Arkansas
Property taxes in Salesville, Arkansas, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Salesville is 0.52%, significantly lower than both the Arkansas state median of 0.63% and the U.S. national median of 0.99%. Local government entities within Salesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salesville 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 Salesville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72653 zip code has the highest median property tax rate of 0.63%, while the 72653 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Salesville 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 Salesville Tax Rate
0.99%
Average Baxter County Tax Rate
0.65%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salesville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72653 | 0.76% | 0.86% | 0.99% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Salesville, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Salesville, Arkansas. 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 Salesville, 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. For instance, the tax bill for the 25th percentile is around $350, while the 75th percentile sees a tax bill of about $1,580. 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 Salesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Salesville Assessed Value
$87,000
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 Salesville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72653 | $27,450 | $42,400 | $87,000 | $156,200 | $202,380 |
Source: Ownwell
Property Tax Bills Across Salesville, Arkansas
In Salesville, Baxter County, AR, property tax bills are calculated based on the assessed value of your home. The assessed value is typically a percentage of the market value, determined by local assessors. For instance, with a median home price of $87,000, the tax bill can vary significantly. Factors like property location, improvements, and market conditions all play a role in determining this value. Homeowners in Salesville can expect their property tax bills to fall within a range. At the 25th percentile, the tax bill is around $350, while at the 75th percentile, it can reach up to $1,580. The highest tax bills, at the 90th percentile, can be as much as $1,845. Compared to the national median property tax rate of 0.99%, Salesville's rates can be quite variable, offering both lower and higher ends of the spectrum. This variability can significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Salesville Tax Bill
$940
Average Baxter County Tax Bill
$862
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Salesville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72653 | $320 | $350 | $940 | $1,580 | $1,845 |
Source: Ownwell