Perla, Arkansas Property Taxes
The median property tax rate in Perla, AR is 1.04%, slightly higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Perla, the typical annual property tax bill reaches $61, which is significantly lower than the national median of $2,690. Property taxes in Perla are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Perla'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 Perla 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
Perla, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$69
Ownwell’s Perla Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perla with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perla 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 Hot Spring County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Perla, Arkansas
Property taxes in Perla, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perla is 1.04%, which is significantly higher than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Perla set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perla 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 Perla's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72104 has both the highest and lowest median property tax rate of 1.04%. Understanding how these areas compare with Perla 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 Perla Tax Rate
1.04%
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 Perla, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Perla, Arkansas
In Perla, 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 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 Perla, 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 Perla helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Perla is $6,662, with tax bills ranging from $54 at the 25th percentile to $74 at the 90th percentile.
Average Perla Assessed Value
$6,662
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 Perla, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | $4,878 | $5,519 | $6,662 | $7,494 | $7,572 |
Source: Ownwell
Property Tax Bills Across Perla, Arkansas
In Perla, Hot Spring County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Perla, the median home price is $6,662, and the local property tax rate is applied to this value to calculate the tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value and, consequently, the tax bill. Homeowners in Perla typically see tax bills ranging from $54 at the 25th percentile to $74 at the 90th percentile, with a median tax bill of around $69. This relatively low tax bill can be attributed to the lower property values in the area compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and budget accordingly, ensuring they are prepared for their annual property tax payments.
Average Perla Tax Bill
$61
Average Hot Spring County Tax Bill
$477
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Perla, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | $49 | $54 | $61 | $69 | $74 |
Source: Ownwell