Knobel, Arkansas Property Taxes
The median property tax rate in Knobel, AR is 0.80%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Knobel, the typical annual property tax bill reaches $269, significantly lower than the national median of $2,690. Property taxes in Knobel 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 Knobel'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 Knobel 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
Knobel, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$292
Ownwell’s Knobel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Knobel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Knobel 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 Knobel, Arkansas
Property taxes in Knobel, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Knobel is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Knobel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Knobel 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 Knobel's effective property tax rate to other areas in Clay County and the national median. For comparison, the zip code 72435 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these figures compare with Knobel provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Knobel Tax Rate
0.80%
Average Clay County Tax Rate
0.78%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knobel, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72435 | 0.59% | 0.69% | 0.80% | 0.85% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Knobel, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Knobel, 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 local 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 Knobel, 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 Knobel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Knobel is $36,450, with tax bills ranging from $122 at the 25th percentile to $737 at the 90th percentile. The zip code 72435 has the highest and lowest median tax bill at $269.
Average Knobel Assessed Value
$36,450
Average Clay County Assessed Value
$59,500
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knobel, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72435 | $3,030 | $15,450 | $36,450 | $64,250 | $103,500 |
Source: Ownwell
Property Tax Bills Across Knobel, Arkansas
In Knobel, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $36,450, homeowners in Knobel can expect varying tax bills depending on the assessed value and specific tax rates applied. Factors such as property location within Clay County, property type, and any applicable exemptions also play a role in determining the final tax bill. Homeowners in Knobel experience a range of property tax bills, with the 25th percentile at $122 and the 75th percentile at $460. The 90th percentile reaches up to $737. These figures indicate that property tax bills in Knobel can vary significantly, impacting homeowners differently based on their property's assessed value and other influencing factors. Compared to the national median property tax rate of 0.99%, Knobel's property tax rates offer a relatively affordable option for homeowners.
Average Knobel Tax Bill
$269
Average Clay County Tax Bill
$445
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Knobel, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72435 | $40 | $122 | $269 | $460 | $737 |
Source: Ownwell