Lead Hill, Arkansas Property Taxes
The median property tax rate in Lead Hill, AR is 0.89%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $104,750 in Lead Hill, the typical annual property tax bill amounts to $829, significantly below the national median of $2,690. Property taxes in Lead Hill are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Lead Hill'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 Lead Hill or another part of Marion County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lead Hill, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$932
$865
Ownwell’s Lead Hill Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Lead Hill. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Lead Hill to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities clearly. For those interested in exploring trends at a neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by Marion County for tax calculations and considers any applicable exemptions.
Property Tax Rates Across Lead Hill, Arkansas
Property taxes in Lead Hill, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lead Hill is 0.52%, lower than both the Arkansas state median of 0.63% and the U.S. national median of 0.99%. Local government entities within Lead Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lead Hill 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 Lead Hill's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in Arkansas is 0.69% in 72701, while the lowest median tax rate is 0.32% in 72959. Understanding how these cities compare with Lead Hill 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 Lead Hill Tax Rate
0.89%
Average Marion County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lead Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72644 | 0.54% | 0.73% | 0.89% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Lead Hill, Arkansas
In Lead Hill, 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 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 Lead Hill, 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 Lead Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lead Hill are both $829, found in the 72644 zip code.
Average Lead Hill Assessed Value
$104,750
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 Lead Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72644 | $20,660 | $64,050 | $104,750 | $170,800 | $245,480 |
Source: Ownwell
Property Tax Bills Across Lead Hill, Arkansas
In Lead Hill, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in the area is $104,750. Homeowners can expect their tax bills to vary significantly, with the 25th percentile paying around $558 and the 75th percentile paying approximately $1,344. At the 90th percentile, tax bills can reach up to $1,879. Several factors influence the final tax bill, including the local tax rate, property assessments, and any applicable exemptions. The highest median tax bill in the region is $829, which is relatively modest compared to the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial as they directly affect annual expenses. A higher assessed value or an increase in the local tax rate can lead to a higher tax bill, impacting the overall cost of homeownership. Therefore, staying informed about property assessments and potential exemptions can help manage and potentially reduce property tax liabilities.
Average Lead Hill Tax Bill
$829
Average Marion County Tax Bill
$708
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Lead Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72644 | $205 | $558 | $829 | $1,344 | $1,879 |
Source: Ownwell