Kingston, Arkansas Property Taxes
The median property tax rate in Kingston, Arkansas is 0.73%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Kingston at $94,750, the typical annual property tax bill amounts to $685, significantly below the national median of $2,690. Property taxes in Kingston 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 Kingston'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 Kingston 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
Kingston, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$692
$642
Ownwell’s Kingston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingston 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 Kingston, Arkansas
Property taxes in Kingston, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingston is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Kingston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingston 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. For comparison, the 72742 zip code has both the highest and lowest median property tax rate of 0.73%. Understanding how these areas compare with Kingston 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 Kingston Tax Rate
0.73%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingston, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72742 | 0.56% | 0.65% | 0.73% | 0.85% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Kingston, Arkansas
In Kingston, 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. In Kingston, 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 Kingston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Kingston are found in the 72742 zip code, both at $685.
Average Kingston Assessed Value
$94,750
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 Kingston, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72742 | $23,050 | $37,500 | $94,750 | $172,588 | $286,220 |
Source: Ownwell
Property Tax Bills Across Kingston, Arkansas
In Kingston, Newton County, AR, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the property's market value. For homeowners in Kingston, the median home price is $94,750. The tax bill is then determined by applying the local tax rate to this assessed value. Various factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rates set by local authorities. For example, homeowners in Kingston can expect their property tax bills to range significantly. At the 25th percentile, the tax bill is around $254, while at the 75th percentile, it can reach up to $1,255. The highest tax bills, at the 90th percentile, can go up to $2,324. These variations can have a considerable impact on homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Kingston's property tax rates may offer some homeowners a more affordable option, depending on their specific circumstances.
Average Kingston Tax Bill
$685
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingston, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72742 | $139 | $254 | $685 | $1,255 | $2,324 |
Source: Ownwell