Bonnerdale, Arkansas Property Taxes
The median property tax rate in Bonnerdale, AR is 0.75%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $52,650 in Bonnerdale, the typical annual property tax bill is $379, significantly below the national median of $2,690. Property taxes in Bonnerdale 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 Bonnerdale'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 Bonnerdale or another part of Hot Spring County, understanding the local property tax system will benefit 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
0.75%
Estimate Property Tax Bill
$395
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 essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bonnerdale is 0.75%, which is lower than 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 areas in Hot Spring County and the national median. For comparison, the zip code 71933 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Bonnerdale provides valuable insights into the varying tax landscape across Hot Spring County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bonnerdale Tax Rate
0.75%
Average Hot Spring County Tax Rate
0.79%
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 | 0.11% | 0.37% | 0.75% | 1.00% | 1.00% |
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 Hot Spring 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 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 $52,650, with the 25th percentile tax bill at $110 and the 75th percentile tax bill at $839. The highest median tax bill is $379 in zip code 71933. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bonnerdale Assessed Value
$52,650
Average Hot Spring County Assessed Value
$64,425
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 | $10,790 | $26,950 | $52,650 | $104,975 | $171,450 |
Source: Ownwell
Property Tax Bills Across Bonnerdale, Arkansas
In Bonnerdale, Hot Spring County, AR, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is then subject to the county's tax rate. For example, with a median home price of $52,650, homeowners can expect varying tax bills based on this assessed value. The 25th percentile tax bill is around $110, while the 75th percentile reaches up to $839, and the 90th percentile can go as high as $1,372. These tax bills are influenced by several factors, including the home's market value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Bonnerdale may find their tax obligations relatively manageable. However, the impact on homeowners can vary significantly, with those in higher value homes or neighborhoods facing steeper bills. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Bonnerdale Tax Bill
$379
Average Hot Spring County Tax Bill
$477
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 | $46 | $110 | $379 | $839 | $1,372 |
Source: Ownwell