Carthage, Arkansas Property Taxes
The median property tax rate in Carthage, AR is 0.43%, significantly lower than the national median of 0.99% and the Arkansas state median of 0.61%. With a median home value of $70,600 in Carthage, the typical annual property tax bill is $303, well below the national median of $2,690. Property taxes in Carthage 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 Carthage'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 Carthage 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
Carthage, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$215
Ownwell’s Carthage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carthage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carthage 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 Carthage, Arkansas
Property taxes in Carthage, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carthage is 0.56%, which is significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Carthage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carthage 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 Carthage's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71725 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these areas compare with Carthage provides valuable insights into the varying tax landscape across Dallas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carthage Tax Rate
0.99%
Average Dallas County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carthage, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71725 | 0.94% | 0.94% | 0.99% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Carthage, Arkansas
In Carthage, 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 local 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 Carthage, 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. The median home price in Carthage is $21,750, with tax bills ranging from $128 at the 25th percentile to $547 at the 90th percentile. The highest median tax bill is $223 in the 71725 zip code. 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 Carthage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carthage Assessed Value
$21,750
Average Dallas County Assessed Value
$34,750
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carthage, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71725 | $7,600 | $12,600 | $21,750 | $40,600 | $57,850 |
Source: Ownwell
Property Tax Bills Across Carthage, Arkansas
In Carthage, located in Dallas County, AR, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value, determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $21,750, the tax bill can range significantly. Homeowners at the 25th percentile can expect to pay around $128, while those at the 75th percentile might see bills closer to $390. At the 90th percentile, the tax bill can be as high as $547. These variations are influenced by factors such as property size, location, and any applicable exemptions. Understanding these factors is crucial for homeowners, as property taxes directly impact annual housing costs and long-term financial planning. Compared to the national median property tax rate of 0.99%, Carthage's property tax rates offer a relatively affordable option for homeowners.
Average Carthage Tax Bill
$223
Average Dallas County Tax Bill
$345
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Carthage, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71725 | $80 | $128 | $223 | $390 | $547 |
Source: Ownwell