Huntsville, Arkansas Property Taxes
The median property tax rate in Huntsville, AR is 0.66%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Huntsville at $85,600, the typical annual property tax bill is $508, well below the national median of $2,690. Property taxes in Huntsville 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 Huntsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Huntsville 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
Huntsville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$565
$524
Ownwell’s Huntsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huntsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntsville 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 Huntsville, Arkansas
Property taxes in Huntsville, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntsville is 0.66%, which is below the U.S. national median of 0.99%. Local government entities within Huntsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntsville 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 Huntsville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72740 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Huntsville provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huntsville Tax Rate
0.66%
Average Madison County Tax Rate
0.68%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntsville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72740 | 0.11% | 0.36% | 0.66% | 0.90% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Huntsville, Arkansas
In Huntsville, 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 Madison 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 Huntsville, 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 Huntsville is $85,600, with the 25th percentile tax bill at $199 and the 75th percentile tax bill at $962. The zip code 72740 has both the highest and lowest median tax bill at $508. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Huntsville Assessed Value
$85,600
Average Madison County Assessed Value
$78,900
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Huntsville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72740 | $22,900 | $46,900 | $85,600 | $140,450 | $205,920 |
Source: Ownwell
Property Tax Bills Across Huntsville, Arkansas
In Huntsville, Madison County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $85,600, homeowners can expect their property tax bill to fall within a certain range. The 25th percentile tax bill is around $199, while the 75th percentile tax bill is approximately $962. At the higher end, the 90th percentile tax bill reaches up to $1,529. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. The assessed value is determined by the county assessor, who evaluates the property's market value and applies the appropriate assessment ratio. Local tax rates, set by various taxing authorities, are then applied to this assessed value. For homeowners, understanding these factors is crucial, as property taxes can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Huntsville's property tax rates offer a relatively affordable option for homeowners.
Average Huntsville Tax Bill
$508
Average Madison County Tax Bill
$463
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntsville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72740 | $42 | $199 | $508 | $962 | $1,529 |
Source: Ownwell