Malvern, Arkansas Property Taxes
The median property tax rate in Malvern, AR is 1.08%, which is higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $36,450 in Malvern, the typical annual property tax bill amounts to $394, which is significantly lower than the national median of $2,690. Property taxes in Malvern are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Malvern'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 Malvern 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
Malvern, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$394
Ownwell’s Malvern Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Malvern with just two key data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Malvern to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities easily. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value reflects the value determined by the county for tax purposes, including any applicable exemptions.
Property Tax Rates Across Malvern, Arkansas
Property taxes in Malvern, Arkansas, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Malvern is 0.48%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Malvern set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malvern 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 Malvern's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72104 has both the highest and lowest median property tax rate of 0.48%. Understanding how these areas compare with Malvern provides valuable insights into the varying tax landscape across Hot Spring County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malvern Tax Rate
1.08%
Average Dallas County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malvern, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | 1.08% | 1.08% | 1.08% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Malvern, Arkansas
In Malvern, 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 Dallas 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 Malvern, 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 Malvern helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 72104, with a median tax bill of $394.
Average Malvern Assessed Value
$36,450
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 Malvern, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | $36,450 | $36,450 | $36,450 | $36,450 | $36,450 |
Source: Ownwell
Property Tax Bills Across Malvern, Arkansas
In Malvern, AR, property tax bills are calculated based on the assessed value of a property, which is derived from its market value. The local county assessor determines the market value, and then the assessed value is typically a percentage of this market value. For example, in Malvern, the median home price is $36,450, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. In Malvern, the property tax bill doesn't vary significantly across different percentiles, with the 25th, 75th, and 90th percentiles all having a tax bill of $394. This uniformity suggests a stable and predictable tax environment for homeowners. Compared to the national median property tax rate of 0.99%, Malvern's property taxes are relatively modest. For homeowners, this means a lower financial burden, making it an attractive place for those looking to minimize their property tax expenses while enjoying the benefits of homeownership.
Average Malvern Tax Bill
$394
Average Dallas County Tax Bill
$345
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Malvern, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | $394 | $394 | $394 | $394 | $394 |
Source: Ownwell