Enola, Arkansas Property Taxes
The median property tax rate in Enola, Arkansas is 1.00%, slightly higher than the national median of 0.99% and significantly above the Arkansas state median of 0.84%. With the median home value in Enola at $93,850, the typical annual property tax bill reaches $860, which is notably lower than the national median of $2,690. Property taxes in Enola are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Enola'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 Enola 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
Enola, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$939
Ownwell’s Enola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Enola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Enola 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 Enola, Arkansas
Property taxes in Enola, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Enola is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Enola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Enola 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 Enola's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72047 has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Enola provides valuable insights into the varying tax landscape across Faulkner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Enola Tax Rate
1.00%
Average Faulkner County Tax Rate
0.96%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Enola, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72047 | 0.75% | 0.89% | 1.00% | 1.00% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Enola, Arkansas
In Enola, 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 Faulkner 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 Enola, 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 Enola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72047 in Enola has the highest median tax bill at $860.00, which is significantly lower than the national median property tax rate of 0.99%.
Average Enola Assessed Value
$93,850
Average Faulkner County Assessed Value
$149,500
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Enola, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72047 | $24,350 | $49,500 | $93,850 | $172,700 | $245,200 |
Source: Ownwell
Property Tax Bills Across Enola, Arkansas
In Enola, located in Faulkner County, AR, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The tax rate, or millage rate, is then applied to this assessed value to determine your annual tax bill. Factors such as the median home price, which is $93,850, play a significant role in this calculation. Homeowners can expect tax bills to vary widely, with the 25th percentile at $443 and the 75th percentile reaching $1,688. For those in the 90th percentile, tax bills can go up to $2,345. The highest and lowest median tax bills in the area are both $860, indicating a relatively uniform tax rate across different properties. Compared to the national median property tax rate of 0.99%, Enola's rates provide a benchmark for understanding local tax obligations. This system ensures that property tax contributions are proportional to property values, affecting homeowners' annual financial planning.
Average Enola Tax Bill
$860
Average Faulkner County Tax Bill
$1,390
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Enola, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72047 | $242 | $443 | $860 | $1,688 | $2,345 |
Source: Ownwell