Harrell, Arkansas Property Taxes
The median property tax rate in Harrell, AR is 1.00%, slightly above the national median of 0.99% and notably higher than the Arkansas state median of 0.84%. With the median home value in Harrell at $29,300, the typical annual property tax bill amounts to $282, which is significantly lower than the national median of $2,690. Property taxes in Harrell are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Harrell'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 Harrell 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
Harrell, 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 HARRELL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HARRELL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HARRELL 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 Harrell, Arkansas
Property taxes in Harrell, Arkansas, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Harrell is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Harrell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrell 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 Harrell's effective property tax rate to other areas and the national median. For comparison, the zip code 71745 has the highest median property tax rate of 1.00%, while the same zip code also records the lowest median tax rate of 1.00%. Understanding how these cities compare with Harrell provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrell Tax Rate
1.00%
Average Calhoun County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrell, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71745 | 0.95% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Harrell, Arkansas
In Harrell, 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 Calhoun 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 Harrell, 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. For instance, the zip code 71745 in Harrell shows the highest median tax bill at $282. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harrell Assessed Value
$29,300
Average Calhoun County Assessed Value
$38,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrell, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71745 | $3,500 | $10,200 | $29,300 | $46,650 | $73,110 |
Source: Ownwell
Property Tax Bills Across Harrell, Arkansas
In Harrell, Calhoun County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Several factors influence this assessed value, including the home's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Harrell, the median home price stands at $29,300. Property tax bills vary significantly across different percentiles. For instance, the 25th percentile tax bill is $102, while the 75th percentile tax bill rises to $463. At the 90th percentile, homeowners can expect to pay around $692. These tax bills, although relatively modest compared to the national median property tax rate of 0.99%, still represent a crucial annual expense that can impact household budgets. Understanding these factors helps homeowners anticipate and manage their financial obligations more effectively.
Average Harrell Tax Bill
$282
Average Calhoun County Tax Bill
$351
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrell, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71745 | $36 | $102 | $282 | $463 | $692 |
Source: Ownwell