Harriet, Arkansas Property Taxes
The median property tax rate in Harriet, Arkansas is 0.82%, slightly below both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $92,700 in Harriet, the typical annual property tax bill amounts to $780, well under the national median of $2,690. Property taxes in Harriet are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Harriet'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 Harriet 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
Harriet, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$760
Ownwell’s Harriet Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers aiming to estimate their annual property taxes in Harriet. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Harriet to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at a neighborhood level, further localized information is available below. Remember, your property's assessed value is determined by Marion County specifically for tax purposes, including any applicable exemptions.
Property Tax Rates Across Harriet, Arkansas
Property taxes in Harriet, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harriet is 0.82%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Harriet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harriet 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 Harriet's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72639 has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Harriet provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harriet Tax Rate
0.82%
Average Marion County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harriet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72639 | 0.63% | 0.65% | 0.82% | 0.85% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Harriet, Arkansas
In Harriet, 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 Marion 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 Harriet, 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 Harriet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Harriet's highest and lowest median tax bills are both $780 in the 72639 zip code, offering a clear picture of the local tax landscape.
Average Harriet Assessed Value
$92,700
Average Marion County Assessed Value
$88,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harriet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72639 | $43,700 | $50,300 | $92,700 | $174,400 | $230,470 |
Source: Ownwell
Property Tax Bills Across Harriet, Arkansas
In Harriet, Arkansas, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is applied to this assessed value to determine the annual property tax bill. Several factors influence the assessed value, including the home's location, size, and condition. For homeowners in Harriet, the median home price is $92,700, leading to varying tax bills across different percentiles. For example, the tax bill at the 25th percentile is $434, while at the 75th percentile, it rises to $1,249. At the 90th percentile, homeowners might see a tax bill as high as $1,624. These figures show a significant range, reflecting differences in property values and tax rates within the area. Compared to the national median property tax rate of 0.99%, Harriet's property tax rates can be seen as relatively moderate, but they still represent a considerable expense for homeowners. Understanding these factors can help residents better anticipate and manage their annual property tax obligations.
Average Harriet Tax Bill
$780
Average Marion County Tax Bill
$708
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Harriet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72639 | $381 | $434 | $780 | $1,249 | $1,624 |
Source: Ownwell