Green Forest, Arkansas Property Taxes
The median property tax rate in Green Forest, AR is 0.79%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Green Forest at $72,725, the typical annual property tax bill amounts to $422, significantly less than the national median of $2,690. Property taxes in Green Forest are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Green Forest'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 Green Forest 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
Green Forest, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$575
Ownwell’s Green Forest Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Green Forest with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Green Forest 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 Green Forest, Arkansas
Property taxes in Green Forest, Arkansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Green Forest is 0.52%, lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Green Forest set these rates annually, and they can vary significantly across different neighborhoods. Each year, Green Forest 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 Green Forest's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72638 zip code has the highest median property tax rate of 0.79%, while the 72638 zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Green Forest provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Green Forest Tax Rate
0.79%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Green Forest, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72638 | 0.52% | 0.68% | 0.79% | 0.85% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Green Forest, Arkansas
In Green Forest, 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 Newton County Assessor 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. Assessment notices in Green Forest 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 Green Forest helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Green Forest is $72,725, with the highest and lowest median tax bills both being $422 in zip code 72638.
Average Green Forest Assessed Value
$72,725
Average Newton County Assessed Value
$77,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Green Forest, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72638 | $44,705 | $58,062 | $72,725 | $100,462 | $131,850 |
Source: Ownwell
Property Tax Bills Across Green Forest, Arkansas
In Green Forest, Arkansas, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Green Forest is $72,725. Property taxes are determined by applying the local tax rate to this assessed value. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the final tax bill. For example, the tax bill at the 25th percentile is $396, while at the 75th percentile, it rises to $876, and at the 90th percentile, it reaches $1,046. Compared to the national median property tax rate of 0.99%, Green Forest offers relatively affordable property taxes. The highest median tax bill in the area is $422, found in the zip code 72638, which is also the lowest. These figures provide a snapshot of the property tax landscape in Green Forest and highlight how various factors can influence what homeowners ultimately pay.
Average Green Forest Tax Bill
$422
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Green Forest, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72638 | $262 | $396 | $422 | $876 | $1,046 |
Source: Ownwell