Haynes, Arkansas Property Taxes
The median property tax rate in Haynes, AR is 0.77%, 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 $28,820 in Haynes, the typical annual property tax bill is around $217, significantly below the national median of $2,690. Property taxes in Haynes are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Haynes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're located in the heart of Haynes or elsewhere in the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Haynes, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$222
Ownwell’s Haynes Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Haynes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haynes to provide an estimate of 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 Lee County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Haynes, Arkansas
Property taxes in Haynes, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Haynes is 0.77%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Haynes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Haynes 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 Haynes's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72341 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Haynes provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Haynes Tax Rate
0.77%
Average Lee County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Haynes, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72341 | 0.67% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Haynes, Arkansas
In Haynes, 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 local assessment authority 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 Haynes, 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 Haynes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Haynes is $28,820, with property tax bills ranging from $161 at the 25th percentile to $438 at the 90th percentile. The highest and lowest median tax bills are both $217, found in the 72341 zip code.
Average Haynes Assessed Value
$28,820
Average Lee County Assessed Value
$41,075
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Haynes, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72341 | $5,150 | $19,675 | $28,820 | $40,638 | $60,785 |
Source: Ownwell
Property Tax Bills Across Haynes, Arkansas
Property tax bills in Haynes, Lee County, AR are calculated based on the assessed value of a property. The assessment process involves determining the market value of the property, which is then multiplied by an assessment ratio set by the state. For example, if the median home price is $28,820, the assessed value is derived from this figure. The tax rate is then applied to the assessed value to calculate the tax bill. Several factors influence the tax bill, including property location, size, and market conditions. In Haynes, the tax bills range from $161 at the 25th percentile to $438 at the 90th percentile, indicating variability based on property characteristics. Compared to the national median property tax rate of 0.99%, Haynes residents generally face lower tax bills. This lower tax burden can make homeownership more accessible and affordable, but it also means that local services funded by property taxes may receive less revenue.
Average Haynes Tax Bill
$217
Average Lee County Tax Bill
$285
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Haynes, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72341 | $43 | $161 | $217 | $307 | $438 |
Source: Ownwell