Hensley, Arkansas Property Taxes
The median property tax rate in Hensley, AR is 0.89%, 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 Hensley at $143,800, the typical annual property tax bill amounts to $1,257, which is below the national median of $2,690. Property taxes in Hensley are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Hensley's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in Hensley or another part of Grant County, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hensley, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,280
Ownwell’s Hensley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hensley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hensley 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 Hensley, Arkansas
Property taxes in Hensley, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hensley is 0.89%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Hensley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hensley 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 Hensley's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72065 zip code has the highest median property tax rate of 0.89%, while the 72065 zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Hensley provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hensley Tax Rate
0.89%
Average Grant County Tax Rate
0.85%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hensley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | 0.69% | 0.81% | 0.89% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Hensley, Arkansas
In Hensley, 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 Grant 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 Hensley, 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. For instance, the median home price in Hensley is $143,800, with annual tax bills ranging from $531 at the 25th percentile to $1,490 at the 75th percentile. The highest median tax bill is $1,257 in zip code 72065. Being aware of these valuation processes in Hensley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hensley Assessed Value
$143,800
Average Grant County Assessed Value
$100,075
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hensley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | $26,650 | $67,200 | $143,800 | $168,600 | $210,160 |
Source: Ownwell
Property Tax Bills Across Hensley, Arkansas
In Hensley, located in Grant County, AR, property tax bills are determined based on the assessed value of a home, which is generally a percentage of the property's market value. Homeowners in Hensley can expect their property tax bills to fall within a range, influenced by factors such as the home's location, size, and condition. The median home price in Hensley is $143,800, and property tax bills typically range from $531 at the 25th percentile to $1,490 at the 75th percentile, with the highest median tax bill recorded at $1,257. These tax bills are crucial for homeowners as they directly impact annual housing costs. For instance, a homeowner with a property in the 90th percentile could see a tax bill as high as $1,823. Compared to the national median property tax rate of 0.99%, Hensley’s property tax rates offer a relatively affordable option for homeowners, making it an attractive location for those looking to manage their annual expenses effectively.
Average Hensley Tax Bill
$1,257
Average Grant County Tax Bill
$770
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hensley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | $220 | $531 | $1,257 | $1,490 | $1,823 |
Source: Ownwell