Harrisburg, Arkansas Property Taxes
The median property tax rate in Harrisburg, Arkansas is 0.79%, 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 Harrisburg, the typical annual property tax bill reaches $504, significantly below the national median of $2,690. Property taxes in Harrisburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Harrisburg'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 Harrisburg 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
Harrisburg, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$542
Ownwell’s Harrisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrisburg 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 Harrisburg, Arkansas
Property taxes in Harrisburg, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrisburg is 0.58%, lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Harrisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrisburg 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 Harrisburg's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72432 has the highest median property tax rate of 0.58%, while the zip code 72432 also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Harrisburg provides valuable insights into the varying tax landscape across Poinsett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrisburg Tax Rate
0.79%
Average Poinsett County Tax Rate
0.79%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrisburg, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72432 | 0.52% | 0.64% | 0.79% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Harrisburg, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harrisburg, Arkansas. 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 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 Harrisburg, 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. The median home price in Harrisburg is $68,600, with tax bills ranging from $239 at the 25th percentile to $1,516 at the 90th percentile. The highest and lowest median tax bills are both $504, found in the 72432 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harrisburg Assessed Value
$68,600
Average Poinsett County Assessed Value
$65,250
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrisburg, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72432 | $13,055 | $32,588 | $68,600 | $124,062 | $202,840 |
Source: Ownwell
Property Tax Bills Across Harrisburg, Arkansas
In Harrisburg, 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 Harrisburg stands at $68,600. Property taxes are then determined by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including property size, location, and improvements made to the property. Homeowners in Harrisburg experience a range of tax bills. The 25th percentile tax bill is $239, while the 75th percentile is $873, and the 90th percentile reaches $1,516. This variation reflects differences in property values and assessments within the area. The highest and lowest median tax bills in the region are both $504, associated with the zip code 72432. These property taxes directly impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, Harrisburg's rates can be relatively manageable, providing some relief to homeowners in this Arkansas city.
Average Harrisburg Tax Bill
$504
Average Poinsett County Tax Bill
$472
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrisburg, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72432 | $110 | $239 | $504 | $873 | $1,516 |
Source: Ownwell