Delaware, Arkansas Property Taxes
The median property tax rate in Delaware, Arkansas is 0.92%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $69,650 in Delaware, the typical annual property tax bill amounts to $568, which is significantly below the national median of $2,690. Property taxes in Delaware are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Delaware'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 Delaware or another part of Logan County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Delaware, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$641
Ownwell’s Delaware Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Delaware with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delaware 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 Delaware, Arkansas
Property taxes in Delaware, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Delaware is 0.92%, lower than the U.S. national median of 0.99%. Local government entities within Delaware set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delaware 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 Delaware's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72835 zip code has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with Delaware provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delaware Tax Rate
0.92%
Average Logan County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delaware, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72835 | 0.62% | 0.80% | 0.92% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Delaware, Arkansas
In Delaware, 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 Logan County Assessor 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 Delaware, 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 Delaware helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Delaware is $69,650, with tax bills ranging from $265 at the 25th percentile to $1,583 at the 90th percentile. The highest and lowest median tax bill both stand at $568 in the zip code 72835.
Average Delaware Assessed Value
$69,650
Average Logan County Assessed Value
$67,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delaware, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72835 | $19,785 | $32,450 | $69,650 | $122,050 | $172,880 |
Source: Ownwell
Property Tax Bills Across Delaware, Arkansas
In Delaware, located in Logan County, AR, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Delaware experience a range of property tax bills, with the 25th percentile at $265 and the 75th percentile at $1069, indicating significant variability based on property values and local tax rates. The highest median tax bill in the area is $568, which is consistent across the zip code 72835. This figure is relatively modest compared to the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners, these property taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding these components can help homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Delaware Tax Bill
$568
Average Logan County Tax Bill
$602
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Delaware, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72835 | $167 | $265 | $568 | $1,069 | $1,583 |
Source: Ownwell