Ridgedale, Arkansas Property Taxes
The median property tax rate in Ridgedale, AR is 0.57%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Ridgedale at $183,100, the typical annual property tax bill reaches $1,051, well below the national median of $2,690. Property taxes in Ridgedale are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ridgedale'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 Ridgedale 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
Ridgedale, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,044
Ownwell’s Ridgedale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridgedale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridgedale 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 Ridgedale, Arkansas
Property taxes in Ridgedale, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridgedale is 0.57%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Ridgedale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgedale 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 Ridgedale's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in the state is found in zip code 72201, with a rate of 1.07%, while the lowest median tax rate is in zip code 72601, at just 0.33%. Understanding how these cities compare with Ridgedale provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ridgedale Tax Rate
0.57%
Average Boone County Tax Rate
0.89%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ridgedale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Ridgedale, Arkansas
In Ridgedale, 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 Boone 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 Ridgedale, 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 Ridgedale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ridgedale is $183,100, with tax bills ranging from $1,051 at the 25th percentile to $1,051 at the 90th percentile.
Average Ridgedale Assessed Value
$183,100
Average Boone County Assessed Value
$102,750
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ridgedale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Ridgedale, Arkansas
In Ridgedale, located in Boone County, AR, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the home's market value, which in Ridgedale, has a median home price of $183,100. Tax authorities then apply the local property tax rate to this assessed value to determine the annual tax bill. For homeowners in Ridgedale, the property tax rate is a key factor, and it significantly impacts their annual expenses. The tax bill in Ridgedale is relatively predictable, with the 25th, 75th, and 90th percentiles all at $1,051. This consistency suggests that many homes in the area fall within a similar range of assessed values. Comparing this to the national median property tax rate of 0.99%, Ridgedale homeowners may find their tax bills to be quite competitive. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Ridgedale Tax Bill
$1,051
Average Boone County Tax Bill
$870
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridgedale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell