Danville, Arkansas Property Taxes
The median property tax rate in Danville, AR is 0.80%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $64,250 in Danville, the typical annual property tax bill amounts to $526, significantly below the national median of $2,690. Property taxes in Danville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Danville'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 Danville 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
Danville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$514
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, are essential for funding critical local services like public schools, road maintenance, and emergency services. The median tax rate in Danville is 0.80%, 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 Arkansas and the national median. For comparison, the zip code 72833 has both the highest and lowest median property tax rate of 0.80%. Understanding how these areas compare with Danville provides valuable insights into the varying tax landscape across Yell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danville Tax Rate
0.80%
Average Yell County Tax Rate
0.90%
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 | 0.65% | 0.78% | 0.80% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Danville, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Danville, Arkansas. 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 Yell 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 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. The median home price in Danville is $64,250, with tax bills ranging from $270 at the 25th percentile to $1,475 at the 90th percentile. The zip code 72833 has the highest median tax bill of $526. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Danville Assessed Value
$64,250
Average Yell County Assessed Value
$66,625
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 | $11,450 | $31,250 | $64,250 | $107,432 | $183,550 |
Source: Ownwell
Property Tax Bills Across Danville, Arkansas
In Danville, Yell County, AR, property tax bills are calculated based on the assessed value of a home, which is a fraction of its market value. The median home price in Danville is $64,250. To determine the tax bill, local tax rates are applied to the assessed value. Various factors contribute to the final tax bill, including property characteristics and any applicable exemptions or deductions. For example, the tax bill at the 25th percentile is $270, while at the 75th percentile, it rises to $894, and at the 90th percentile, it reaches $1,475. These figures show a range of what homeowners might expect to pay, depending on their property's assessed value and any qualifying exemptions. Compared to the national median property tax rate of 0.99%, Danville's tax bills reflect localized factors and assessments. Understanding these elements helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Danville Tax Bill
$526
Average Yell County Tax Bill
$585
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 | $110 | $270 | $526 | $894 | $1,475 |
Source: Ownwell