Waldo, Arkansas Property Taxes
The median property tax rate in Waldo, AR is 0.86%, slightly higher than the state median of 0.84% but lower than the national median of 0.99%. With the median home value in Waldo at $22,650, the typical annual property tax bill is $117, significantly under the national median of $2,690. Property taxes in Waldo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Familiarizing yourself with Waldo's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Waldo 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
Waldo, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$195
Ownwell’s Waldo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waldo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waldo 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 Waldo, Arkansas
Property taxes in Waldo, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waldo is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Waldo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waldo 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 Waldo's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71770 has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Waldo provides valuable insights into the varying tax landscape across Nevada County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waldo Tax Rate
0.86%
Average Nevada County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waldo, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71770 | 0.12% | 0.41% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Waldo, Arkansas
In Waldo, 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 Nevada 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 Waldo, 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 Waldo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Waldo are both $117.00, found in zip code 71770.
Average Waldo Assessed Value
$22,650
Average Nevada County Assessed Value
$30,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waldo, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71770 | $4,860 | $9,500 | $22,650 | $42,250 | $60,500 |
Source: Ownwell
Property Tax Bills Across Waldo, Arkansas
In Waldo, located in Nevada County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Waldo is $22,650. Factors that influence the tax bill include the property's assessed value, local tax rates, and applicable exemptions. The tax rate in Waldo is relatively low compared to the national median property tax rate of 0.99%. Homeowners in Waldo can expect varying tax bills depending on their property's value. For instance, those in the 25th percentile pay around $55 annually, while those in the 75th percentile pay approximately $266. At the 90th percentile, tax bills can reach $423. Notably, the highest and lowest median tax bills in the area are both $117, found in the 71770 zip code. These property tax bills impact homeowners by contributing to local services and infrastructure, but the relatively low rates can be beneficial for those looking to manage their housing costs effectively.
Average Waldo Tax Bill
$117
Average Nevada County Tax Bill
$203
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Waldo, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71770 | $16 | $55 | $117 | $266 | $423 |
Source: Ownwell