Donaldson, Arkansas Property Taxes
The median property tax rate in Donaldson, AR is 0.69%, which is considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Donaldson, the typical annual property tax bill reaches $375, significantly less than the national median of $2,690. Property taxes in Donaldson 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 Donaldson'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 Donaldson or another part of Hot Spring County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Donaldson, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$383
Ownwell’s Donaldson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Donaldson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Donaldson 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 Donaldson, Arkansas
Property taxes in Donaldson, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Donaldson is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Donaldson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Donaldson 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 Donaldson's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71941 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Donaldson 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 Donaldson Tax Rate
0.69%
Average Hot Spring County Tax Rate
0.79%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Donaldson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71941 | 0.14% | 0.38% | 0.69% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Donaldson, Arkansas
In Donaldson, 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 Hot Spring 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 Donaldson, 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 example, the median home price in Donaldson is $55,525, and tax bills can range significantly. The 25th percentile tax bill is $133, while the 75th percentile tax bill is $715. The highest median tax bill is $375 in zip code 71941. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Donaldson Assessed Value
$55,525
Average Hot Spring County Assessed Value
$64,425
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Donaldson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71941 | $11,640 | $30,800 | $55,525 | $101,425 | $148,205 |
Source: Ownwell
Property Tax Bills Across Donaldson, Arkansas
In Donaldson, located in Hot Spring County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by a percentage of its market value. The median home price in Donaldson is $55,525. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors such as the property's location within the county, any applicable exemptions, and local tax rates influence the final amount. For homeowners in Donaldson, the property tax bill can vary significantly. At the 25th percentile, the tax bill is approximately $133, while it reaches $715 at the 75th percentile and $1,126 at the 90th percentile. The highest median tax bill, recorded at $375, is in the zip code 71941. Compared to the national median property tax rate of 0.99%, the rates in Donaldson can be more affordable, providing some financial relief to homeowners. Understanding these factors can help residents better manage their property tax obligations and plan their finances accordingly.
Average Donaldson Tax Bill
$375
Average Hot Spring County Tax Bill
$477
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Donaldson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71941 | $44 | $133 | $375 | $715 | $1,126 |
Source: Ownwell