Danville, Arkansas Property Taxes
The median property tax rate in Danville, AR is 0.77%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value in Danville of $54,475, the typical annual property tax bill amounts to $412, significantly below the national median of $2,690. Property taxes in Danville are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Danville'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 Danville or another part of Scott County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Danville, 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 Danville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Danville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Danville 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 Danville, Arkansas
Property taxes in Danville, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danville is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Danville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danville 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 Danville's effective property tax rate to other areas in Scott County and the national median. For comparison, the zip code 72833 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 areas compare with Danville 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 Danville 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 Danville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72833 | 0.50% | 0.72% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Danville, Arkansas
In Danville, 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 Danville, 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 Danville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Danville are both $412, found in zip code 72833.
Average Danville Assessed Value
$54,475
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 Danville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72833 | $6,075 | $25,250 | $54,475 | $85,800 | $109,975 |
Source: Ownwell
Property Tax Bills Across Danville, Arkansas
In Danville, located in Scott County, AR, property tax bills are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $54,475, homeowners can expect varying tax bills depending on their specific circumstances. Factors such as the property's location within the city, any applicable exemptions, and improvements made to the property can influence the assessed value and, consequently, the tax bill. Homeowners in Danville typically see tax bills ranging from $243 at the 25th percentile to $785 at the 90th percentile. These figures are relatively modest when compared to the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial as it directly impacts their annual financial planning and overall cost of homeownership.
Average Danville Tax Bill
$412
Average Scott County Tax Bill
$385
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Danville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72833 | $70 | $243 | $412 | $584 | $785 |
Source: Ownwell