Hensley, Arkansas Property Taxes
The median property tax rate in Hensley, AR is 0.81%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Hensley at $41,845, the typical annual property tax bill is $318, significantly below the national median of $2,690. Property taxes in Hensley are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Hensley'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 Hensley 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
Hensley, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$339
Ownwell’s Hensley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hensley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hensley 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 Hensley, Arkansas
Property taxes in Hensley, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hensley is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Hensley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hensley 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 Hensley's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72065 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these areas compare with Hensley provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hensley Tax Rate
0.81%
Average Pulaski County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hensley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | 0.51% | 0.64% | 0.81% | 1.00% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Hensley, Arkansas
In Hensley, 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 Pulaski 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 Hensley, 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 Hensley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hensley is $41,845, with tax bills ranging from $127 at the 25th percentile to $982 at the 90th percentile. The zip code with the highest and lowest median tax bill is 72065, at $318.
Average Hensley Assessed Value
$41,845
Average Pulaski County Assessed Value
$148,242
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hensley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | $5,500 | $15,720 | $41,845 | $84,705 | $127,825 |
Source: Ownwell
Property Tax Bills Across Hensley, Arkansas
In Hensley, located in Pulaski County, AR, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is a percentage of the market value, determined by the county assessor. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors considered in determining the property tax bill include the property's location, its market value, and any applicable exemptions. For instance, the median home price in Hensley is $41,845, resulting in varying tax bills across different percentiles. Homeowners in the 25th percentile pay around $127, while those in the 75th percentile face bills of approximately $617. At the 90th percentile, the tax bill can reach up to $982. Property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Although the median tax bill in Hensley is $318, which is lower than the national median property tax rate of 0.99%, it still plays a crucial role in community funding.
Average Hensley Tax Bill
$318
Average Pulaski County Tax Bill
$1,457
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hensley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | $47 | $127 | $318 | $617 | $982 |
Source: Ownwell