Sweet Home, Arkansas Property Taxes
The median property tax rate in Sweet Home, Arkansas is 0.66%, 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 Sweet Home at $57,235, the typical annual property tax bill amounts to $403, significantly below the national median of $2,690. Property taxes in Sweet Home are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sweet Home'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 Sweet Home 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
Sweet Home, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$378
$351
Ownwell’s Sweet Home Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sweet Home with just two simple inputs. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Sweet Home to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Sweet Home, Arkansas
Property taxes in Sweet Home, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sweet Home is 0.66%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Sweet Home set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sweet Home 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 Sweet Home's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72164 has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Sweet Home provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sweet Home Tax Rate
0.66%
Average Pulaski County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sweet Home, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72164 | 0.50% | 0.57% | 0.66% | 0.78% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Sweet Home, Arkansas
In Sweet Home, 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 local 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 Sweet Home, 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 Sweet Home helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72164 has the highest median tax bill at $403, which is also the lowest median tax bill in the region.
Average Sweet Home Assessed Value
$57,235
Average Pulaski County Assessed Value
$148,242
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sweet Home, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72164 | $29,876 | $36,238 | $57,235 | $79,286 | $109,574 |
Source: Ownwell
Property Tax Bills Across Sweet Home, Arkansas
In Sweet Home, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Sweet Home can expect their tax bills to vary significantly, with the 25th percentile tax bill at $211 and the 75th percentile tax bill at $605. The highest median tax bill in the area is $403, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is essential for financial planning and anticipating annual expenses. The relatively low property tax rates in Sweet Home can make it an attractive place for potential homeowners looking for affordability in their housing costs.
Average Sweet Home Tax Bill
$403
Average Pulaski County Tax Bill
$1,457
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Sweet Home, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72164 | $151 | $211 | $403 | $605 | $743 |
Source: Ownwell