Higginson, Arkansas Property Taxes
The median property tax rate in Higginson, AR is 0.86%, slightly below the national median of 0.99% but marginally higher than the Arkansas state median of 0.84%. With the median home value in Higginson at $53,900, the typical annual property tax bill amounts to $429, which is significantly lower than the national median of $2,690. Property taxes in Higginson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Higginson'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 Higginson 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
Higginson, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$464
Ownwell’s HIGGINSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HIGGINSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HIGGINSON 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 Higginson, Arkansas
Property taxes in Higginson, Arkansas, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Higginson is 0.86%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Higginson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Higginson 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 Higginson's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72068 has both the highest and lowest median property tax rate of 0.86%. Understanding how these areas compare with Higginson provides valuable insights into the varying tax landscape across White County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Higginson Tax Rate
0.86%
Average White County Tax Rate
0.81%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Higginson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72068 | 0.53% | 0.76% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Higginson, Arkansas
In Higginson, 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 White 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 Higginson, 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 Higginson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Higginson is $53,900, with tax bills ranging from $184 at the 25th percentile to $1,062 at the 90th percentile. The zip code 72068 has the highest and lowest median tax bill at $429.
Average Higginson Assessed Value
$53,900
Average White County Assessed Value
$81,100
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Higginson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72068 | $6,030 | $21,300 | $53,900 | $103,450 | $128,300 |
Source: Ownwell
Property Tax Bills Across Higginson, Arkansas
In Higginson, AR, property tax bills are determined based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $53,900, homeowners can expect varying tax bills. The 25th percentile tax bill is around $184, whereas the 75th percentile tax bill reaches $830, and the 90th percentile tax bill can be as high as $1,062. Several factors influence these tax bills, including changes in property values, local tax rates, and available exemptions. Compared to the national median property tax rate of 0.99%, Higginson's rates can be relatively lower, making it more affordable for homeowners. However, fluctuations in assessed values and local policies can significantly impact individual tax obligations. Understanding these factors helps homeowners anticipate their financial responsibilities and manage their budgets more effectively.
Average Higginson Tax Bill
$429
Average White County Tax Bill
$632
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Higginson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72068 | $87 | $184 | $429 | $830 | $1,062 |
Source: Ownwell