Bates, Arkansas Property Taxes
The median property tax rate in Bates, AR is 0.77%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Bates at $9,300, the typical annual property tax bill amounts to just $71, well below the national median of $2,690. Property taxes in Bates are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Bates'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 Bates 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
Bates, 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 Bates Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bates with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bates 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 Bates, Arkansas
Property taxes in Bates, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bates is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Bates set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bates 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 Bates's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72958 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Bates provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bates Tax Rate
0.77%
Average Scott County Tax Rate
0.77%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bates, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72958 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Bates, Arkansas
In Bates, 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 Scott 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 Bates, 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 Bates helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bates Assessed Value
$9,300
Average Scott County Assessed Value
$49,950
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bates, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72958 | $9,300 | $9,300 | $9,300 | $9,300 | $9,300 |
Source: Ownwell
Property Tax Bills Across Bates, Arkansas
In Bates, located in Scott County, AR, property tax bills are determined by assessing the value of a property and applying the local tax rate. The assessed value is typically a percentage of the property's market value. For Bates, the median home price is $9,300. Property taxes are then calculated based on this assessed value and the applicable tax rate set by local authorities. Several factors influence the final tax bill, including the property's location, its assessed value, and any applicable exemptions or deductions. In Scott County, the 25th, 75th, and 90th percentile tax bills are all $71, indicating a consistent tax burden across different property values. This uniformity can be attributed to the relatively low median home price and a stable local tax rate. For homeowners, these property taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Bates offers a more affordable property tax environment, providing relief to homeowners while still supporting community needs.
Average Bates Tax Bill
$71
Average Scott County Tax Bill
$385
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bates, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72958 | $71 | $71 | $71 | $71 | $71 |
Source: Ownwell