Emmet, Arkansas Property Taxes
The median property tax rate in Emmet, Arkansas is 0.86%, slightly higher than the state median of 0.84% but lower than the national median of 0.99%. With the median home value in Emmet at $35,200, the typical annual property tax bill is $212, significantly below the national median of $2,690. Property taxes in Emmet are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Emmet'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 Emmet 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
Emmet, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$303
Ownwell’s EMMET Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EMMET with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EMMET 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 Emmet, Arkansas
Property taxes in Emmet, Arkansas, play a crucial role in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Emmet is 0.86%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Emmet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emmet 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 Emmet's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 71835 has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these areas compare with Emmet provides valuable insights into the varying tax landscape across Nevada County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emmet Tax Rate
0.86%
Average Nevada County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emmet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71835 | 0.13% | 0.37% | 0.86% | 0.86% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Emmet, Arkansas
In Emmet, 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 Nevada 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 Emmet, 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 Emmet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Emmet are both $212.00, found in the 71835 zip code.
Average Emmet Assessed Value
$35,200
Average Nevada County Assessed Value
$30,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emmet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71835 | $5,650 | $14,975 | $35,200 | $67,638 | $107,635 |
Source: Ownwell
Property Tax Bills Across Emmet, Arkansas
In Emmet, Nevada 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 Emmet is $35,200. Property taxes are determined by applying the local tax rate to the assessed value. For example, if a home is assessed at 20% of its market value, a home valued at $35,200 would have an assessed value of $7,040. The tax bill is then calculated by multiplying this assessed value by the local tax rate. Homeowners in Emmet can expect property tax bills that vary significantly. The 25th percentile tax bill is $66, while the 75th percentile tax bill reaches $450, and the 90th percentile tax bill can be as high as $655. The highest median tax bill in the area is $212, which is relatively low compared to the national median property tax rate of 0.99%. These variations in tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Emmet Tax Bill
$212
Average Nevada County Tax Bill
$203
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Emmet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71835 | $27 | $66 | $212 | $450 | $655 |
Source: Ownwell