Tillar, Arkansas Property Taxes
The median property tax rate in Tillar, AR is 0.88%, which is lower than the national median of 0.99% but slightly higher than the Arkansas state median of 0.84%. With a median home value of $64,075 in Tillar, the typical annual property tax bill is approximately $517, significantly below the national median of $2,690. Property taxes in Tillar are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Tillar'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 Tillar 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
Tillar, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$564
Ownwell’s Tillar Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Tillar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tillar 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 Tillar, Arkansas
Property taxes in Tillar, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tillar is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Tillar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tillar 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 Tillar's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71670 has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Tillar provides valuable insights into the varying tax landscape across Desha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tillar Tax Rate
0.88%
Average Desha County Tax Rate
0.95%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tillar, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71670 | 0.52% | 0.67% | 0.88% | 0.97% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Tillar, Arkansas
In Tillar, 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 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 Tillar, 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 Tillar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $517, while the lowest is also $517, both in zip code 71670.
Average Tillar Assessed Value
$64,075
Average Desha County Assessed Value
$52,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tillar, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71670 | $15,590 | $31,412 | $64,075 | $131,700 | $209,320 |
Source: Ownwell
Property Tax Bills Across Tillar, Arkansas
In Tillar, Desha County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. Homeowners in Tillar can expect their property tax bill to be influenced by several factors, including the assessed value of their property and the local tax rate. The median home price in Tillar stands at $64,075, and the property tax rate in this area is competitive compared to the national median rate of 0.99%. For example, the 25th percentile tax bill is around $247, while the 75th percentile reaches approximately $971. At the higher end, the 90th percentile tax bill can go up to $1,667. This range indicates how property values and tax rates can significantly impact the annual tax burden on homeowners. The highest and lowest median tax bills in the area are both $517, reflecting a relatively consistent tax environment within the zip code 71670. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Tillar Tax Bill
$517
Average Desha County Tax Bill
$449
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Tillar, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71670 | $120 | $247 | $517 | $971 | $1,667 |
Source: Ownwell