Havana, Arkansas Property Taxes
The median property tax rate in Havana, AR is 0.89%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Havana at $48,700, the typical annual property tax bill is $392, significantly below the national median of $2,690. Property taxes in Havana 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 Havana'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 Havana 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
Havana, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$433
Ownwell’s Havana Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Havana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Havana 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 Havana, Arkansas
Property taxes in Havana, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Havana 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 Havana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Havana 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 Havana's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72842 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Havana provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Havana Tax Rate
0.89%
Average Logan County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Havana, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72842 | 0.54% | 0.72% | 0.89% | 0.95% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Havana, Arkansas
In Havana, 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 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 Havana, 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 Havana helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72842, amounting to $392, which is also the lowest median tax bill in the area.
Average Havana Assessed Value
$48,700
Average Logan County Assessed Value
$67,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Havana, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72842 | $19,250 | $25,975 | $48,700 | $79,500 | $96,550 |
Source: Ownwell
Property Tax Bills Across Havana, Arkansas
In Havana, Logan County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $48,700. Factors such as property location, size, and condition contribute to the assessed value. Once the assessed value is determined, the local tax rate is applied to calculate the annual tax bill. Homeowners in Havana see a range of property tax bills. For instance, the tax bill at the 25th percentile is $172, while at the 75th percentile, it rises to $765. The 90th percentile tax bill is $886, indicating that higher-value properties incur higher taxes. The highest median tax bill in the area is $392, consistent across the 72842 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Havana benefit from relatively lower property taxes. This lower tax burden can make homeownership more affordable, positively impacting residents' financial well-being.
Average Havana Tax Bill
$392
Average Logan County Tax Bill
$602
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Havana, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72842 | $125 | $172 | $392 | $765 | $886 |
Source: Ownwell