Nashville, Arkansas Property Taxes
The median property tax rate in Nashville, Arkansas is 0.75%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $69,600 in Nashville, the typical annual property tax bill amounts to $530, significantly below the national median of $2,690. Property taxes in Nashville are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Nashville'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 Nashville or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nashville, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Nashville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nashville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nashville 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 Nashville, Arkansas
Property taxes in Nashville, Arkansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nashville is 0.75%, which is below the U.S. national median of 0.99%. Local government entities within Nashville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nashville 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 Nashville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71852 zip code has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these areas compare with Nashville provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nashville Tax Rate
0.75%
Average Pike County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nashville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71852 | 0.58% | 0.67% | 0.75% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Nashville, Arkansas
In Nashville, 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 Pike 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 Nashville, 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 Nashville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Nashville, the highest median tax bill is $530.00 in the 71852 zip code, while the lowest median tax bill is also $530.00 in the same zip code.
Average Nashville Assessed Value
$69,600
Average Pike County Assessed Value
$63,750
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nashville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71852 | $9,600 | $30,850 | $69,600 | $131,375 | $217,800 |
Source: Ownwell
Property Tax Bills Across Nashville, Arkansas
In Nashville, Arkansas, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the property's market value. For example, with a median home price of $69,600, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $267, while those in the 75th percentile might see bills closer to $907. At the 90th percentile, tax bills can reach up to $1,608. Various factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors can help in budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Nashville's property tax rates offer a relatively affordable option for residents, contributing to the overall appeal of owning a home in this area.
Average Nashville Tax Bill
$530
Average Pike County Tax Bill
$523
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Nashville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71852 | $103 | $267 | $530 | $907 | $1,608 |
Source: Ownwell