Marble Falls, Arkansas Property Taxes
The median property tax rate in Marble Falls, Arkansas is 0.65%, which is considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $84,250 in Marble Falls, the typical annual property tax bill is $520, significantly below the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Marble Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Marble Falls or another part of Newton County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marble Falls, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Marble Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marble Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marble Falls 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 Marble Falls, Arkansas
Property taxes in Marble Falls, Arkansas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Marble Falls is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Marble Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marble Falls 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 Marble Falls' effective property tax rate to other areas in Newton County and the national median. For comparison, the 72648 zip code has the same median property tax rate of 0.65%. Understanding how these areas compare with Marble Falls provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marble Falls Tax Rate
0.65%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marble Falls, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72648 | 0.46% | 0.54% | 0.65% | 0.71% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Marble Falls, Arkansas
In Marble Falls, 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 Newton 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. 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 Marble Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $84,250, with the tax bill ranging from $300 at the 25th percentile to $1,294 at the 90th percentile. The zip code 72648 has both the highest and lowest median tax bill, valued at $520.
Average Marble Falls Assessed Value
$84,250
Average Newton County Assessed Value
$77,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marble Falls, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72648 | $24,350 | $46,400 | $84,250 | $139,700 | $223,300 |
Source: Ownwell
Property Tax Bills Across Marble Falls, Arkansas
In the city of Marble Falls, located in Newton County, AR, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies the state's assessment ratio. Factors such as the property's location, size, and improvements can influence this assessed value. Once the assessed value is established, the local property tax rate is applied to calculate the tax bill. Homeowners in Marble Falls face varying tax bills, with the 25th percentile being around $300 and the 75th percentile reaching $866. At the higher end, the 90th percentile tax bill is approximately $1,294. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Marble Falls' property tax rates reflect the local economic conditions and funding needs. Homeowners should be aware of these factors as they influence both the affordability and the value of their property.
Average Marble Falls Tax Bill
$520
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Marble Falls, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72648 | $132 | $300 | $520 | $866 | $1,294 |
Source: Ownwell