Bonnerdale, Arkansas Property Taxes
The median property tax rate in Bonnerdale, AR is 0.51%, which is significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $123,450 in Bonnerdale, the typical annual property tax bill amounts to $660, well below the national median of $2,690. Property taxes in Bonnerdale are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Bonnerdale's property tax system, taking advantage of available exemptions, and seeking opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Bonnerdale or another area within Garland County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Bonnerdale, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$630
Ownwell’s Bonnerdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bonnerdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bonnerdale 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 Bonnerdale, Arkansas
Property taxes in Bonnerdale, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bonnerdale is 0.51%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Bonnerdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bonnerdale 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 Bonnerdale's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71933 zip code has both the highest and lowest median property tax rate of 0.51%. Understanding how these cities compare with Bonnerdale provides valuable insights into the varying tax landscape across Garland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bonnerdale Tax Rate
0.51%
Average Garland County Tax Rate
0.59%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bonnerdale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71933 | 0.16% | 0.33% | 0.51% | 0.74% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Bonnerdale, Arkansas
In Bonnerdale, 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 Garland County Assessor 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 Bonnerdale, 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. The median home price in Bonnerdale is $123,450. Interestingly, the highest median tax bill is $660 in the 71933 zip code, while the lowest median tax bill is also $660 in the same zip code. Being aware of these valuation processes in Bonnerdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bonnerdale Assessed Value
$123,450
Average Garland County Assessed Value
$162,300
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bonnerdale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71933 | $29,450 | $59,738 | $123,450 | $233,962 | $399,115 |
Source: Ownwell
Property Tax Bills Across Bonnerdale, Arkansas
In Bonnerdale, located in Garland County, AR, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and is typically a percentage of the property's market value. For instance, if a home's market value is $123,450, the assessed value would be a fraction of that amount, depending on local regulations. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. In Bonnerdale, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $244, whereas, at the 75th percentile, the tax bill could rise to approximately $1,288. For those at the 90th percentile, the tax bill can reach up to $2,753. Compared to the national median property tax rate of 0.99%, Bonnerdale's property tax landscape can present a range of financial impacts on homeowners, making it essential to understand the local property tax system thoroughly.
Average Bonnerdale Tax Bill
$660
Average Garland County Tax Bill
$863
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bonnerdale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71933 | $85 | $244 | $660 | $1,288 | $2,753 |
Source: Ownwell