Evening Shade, Arkansas Property Taxes
The median property tax rate in Evening Shade, AR is 0.75%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $69,500 in Evening Shade, the typical annual property tax bill reaches $474, significantly below the national median of $2,690. Property taxes in Evening Shade are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Evening Shade'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 Evening Shade or another part of Sharp County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Evening Shade, 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 Evening Shade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Evening Shade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Evening Shade 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 Evening Shade, Arkansas
Property taxes in Evening Shade, Arkansas, play a crucial role in financing essential local services like public schools, road maintenance, and emergency services. The median tax rate in Evening Shade is 0.75%, which is below the U.S. national median of 0.99%. Local government entities within Evening Shade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Evening Shade 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 Evening Shade's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72532 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Evening Shade provides valuable insights into the varying tax landscape across Sharp County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Evening Shade Tax Rate
0.75%
Average Sharp County Tax Rate
0.61%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Evening Shade, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72532 | 0.46% | 0.56% | 0.75% | 0.90% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Evening Shade, Arkansas
In Evening Shade, 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 Sharp 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 Evening Shade, 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 Evening Shade helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Evening Shade, the median home price is $69,500, with tax bills ranging from $261 at the 25th percentile to $1,212 at the 90th percentile. The zip code with the highest and lowest median tax bill is 72532, with a median tax bill of $474.
Average Evening Shade Assessed Value
$69,500
Average Sharp County Assessed Value
$83,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Evening Shade, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72532 | $16,980 | $32,900 | $69,500 | $126,850 | $188,770 |
Source: Ownwell
Property Tax Bills Across Evening Shade, Arkansas
In Evening Shade, located in Sharp County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. Homeowners in this region experience property tax rates that can vary significantly. For instance, the median home price is $69,500, and the property tax bill at the 25th percentile is $261, while at the 75th percentile, it reaches $800. At the 90th percentile, homeowners might see tax bills as high as $1,212. Several factors contribute to determining the tax bill, including the assessed value of the property, the local tax rate, and any applicable exemptions. These elements collectively influence the final amount homeowners owe. Compared to the national median property tax rate of 0.99%, Evening Shade's property tax rates can be relatively moderate, but the exact impact on homeowners can vary widely. This variability can affect household budgets and the overall cost of owning a home in this area, making it essential for residents to understand their property tax obligations.
Average Evening Shade Tax Bill
$474
Average Sharp County Tax Bill
$481
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Evening Shade, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72532 | $136 | $261 | $474 | $800 | $1,212 |
Source: Ownwell