Bismarck, Arkansas Property Taxes
The median property tax rate in Bismarck, Arkansas is 0.62%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Bismarck, the typical annual property tax bill reaches $460, well below the national median of $2,690. Property taxes in Bismarck 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 Bismarck'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 Bismarck 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
Bismarck, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$530
Ownwell’s Bismarck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bismarck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bismarck 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 Bismarck, Arkansas
Property taxes in Bismarck, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bismarck is 0.62%, which is significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Bismarck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bismarck 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 Bismarck's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71929 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Bismarck provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bismarck Tax Rate
0.62%
Average Clark County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bismarck, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71929 | 0.32% | 0.46% | 0.62% | 0.94% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Bismarck, Arkansas
In Bismarck, 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 Clark 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 Bismarck, 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. For instance, the median home price in Bismarck is $85,500, with tax bills ranging from $244 at the 25th percentile to $2,010 at the 90th percentile. The zip code 71929 has the highest median tax bill at $460. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bismarck Assessed Value
$85,500
Average Clark County Assessed Value
$58,450
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bismarck, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71929 | $52,750 | $78,550 | $85,500 | $130,600 | $230,020 |
Source: Ownwell
Property Tax Bills Across Bismarck, Arkansas
In Bismarck, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Bismarck is $85,500, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as the property's location, improvements, and market trends influence the assessed value. Homeowners in Bismarck can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is $244, while the 75th percentile tax bill reaches $1,015. At the 90th percentile, tax bills can be as high as $2,010. The highest median tax bill in the region is $460, which is consistent across the zip code 71929. These tax bills impact homeowners differently depending on their property's assessed value and the applicable tax rate. Understanding these factors can help homeowners budget and plan for their annual property tax expenses, ensuring they are prepared for any fluctuations in their tax obligations.
Average Bismarck Tax Bill
$460
Average Clark County Tax Bill
$458
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bismarck, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71929 | $200 | $244 | $460 | $1,015 | $2,010 |
Source: Ownwell