Bexar, Arkansas Property Taxes
The median property tax rate in Bexar, Arkansas is 0.90%, which is slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $51,550 in Bexar, the typical annual property tax bill amounts to $356, significantly lower than the national median of $2,690. Property taxes in Bexar are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bexar's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bexar or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bexar, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$464
Ownwell’s Bexar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bexar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bexar 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 Bexar, Arkansas
Property taxes in Bexar, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bexar is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Bexar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bexar 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 Bexar's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72515 ZIP code has the highest median property tax rate of 0.90%, while the same ZIP code also has the lowest median tax rate of 0.90%. Understanding how these areas compare with Bexar provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bexar Tax Rate
0.90%
Average Fulton County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bexar, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72515 | 0.51% | 0.77% | 0.90% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Bexar, Arkansas
In Bexar, 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. Assessment notices in Bexar 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 Bexar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72515, with a median bill of $356, while the same zip code also has the lowest median tax bill at $356.
Average Bexar Assessed Value
$51,550
Average Fulton County Assessed Value
$68,050
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bexar, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72515 | $12,625 | $31,750 | $51,550 | $88,738 | $102,650 |
Source: Ownwell
Property Tax Bills Across Bexar, Arkansas
In Bexar, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home. For homeowners in Bexar, the median home price is $51,550, which serves as a baseline for calculating property taxes. Various factors such as property size, location, and improvements can influence this assessed value. The tax bill in Bexar varies significantly across different percentiles. For instance, at the 25th percentile, homeowners can expect to pay around $257, while those at the 75th percentile may see bills as high as $728. The top 10% of tax bills can reach up to $962. This range indicates how property taxes can impact homeowners differently depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Bexar offers a relatively moderate tax environment, making it a potentially attractive location for those looking to manage their property tax expenses effectively.
Average Bexar Tax Bill
$356
Average Fulton County Tax Bill
$483
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bexar, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72515 | $143 | $257 | $356 | $728 | $962 |
Source: Ownwell