Viola, Arkansas Property Taxes
The median property tax rate in Viola, AR is 0.90%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Viola at $73,100, the typical annual property tax bill is $594, which is significantly less than the national median of $2,690. Property taxes in Viola are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Viola'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 Viola 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
Viola, 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 Viola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Viola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Viola 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 Viola, Arkansas
Property taxes in Viola, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Viola is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Viola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Viola 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 Viola's effective property tax rate to other areas and the national median. For comparison, the zip code 72583 has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Viola 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 Viola 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 Viola, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72583 | 0.64% | 0.76% | 0.90% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Viola, Arkansas
In Viola, 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 Fulton 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 Viola, 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 Viola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 72583 has the highest median tax bill at $594.00.
Average Viola Assessed Value
$73,100
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 Viola, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72583 | $17,910 | $38,362 | $73,100 | $114,688 | $158,725 |
Source: Ownwell
Property Tax Bills Across Viola, Arkansas
In Viola, located in Fulton County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if the median home price in Viola is $73,100, the assessed value is determined by applying the local assessment ratio. The property tax rate is then applied to this assessed value to calculate the tax bill. Factors influencing the tax bill include the market value of the property, local assessment practices, and the specific tax rate set by local government authorities. Homeowners in Viola can expect a range of property tax bills. At the 25th percentile, tax bills are around $301, while at the 75th percentile, they can go up to $974. For those at the 90th percentile, the tax bill can reach approximately $1,403. Comparatively, the national median property tax rate is 0.99%, which puts Viola's property taxes in a relatively moderate range, impacting homeowners by contributing to local public services and infrastructure.
Average Viola Tax Bill
$594
Average Fulton County Tax Bill
$483
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Viola, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72583 | $150 | $301 | $594 | $974 | $1,403 |
Source: Ownwell