Williford, Arkansas Property Taxes
The median property tax rate in Williford, AR is 0.53%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Williford at $55,400, the typical annual property tax bill amounts to $270, well below the national median of $2,690. Property taxes in Williford are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Williford'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 Williford or another part of Sharp County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Williford, 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 Williford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williford 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 Williford, Arkansas
Property taxes in Williford, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williford is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within Williford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williford 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 Williford's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72482 has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Williford provides valuable insights into the varying tax landscape across Sharp County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Williford Tax Rate
0.53%
Average Sharp County Tax Rate
0.61%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williford, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72482 | 0.36% | 0.43% | 0.53% | 0.71% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Williford, Arkansas
In Williford, 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 Sharp 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 Williford, 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 Williford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72482 has both the highest and lowest median tax bills at $270.
Average Williford Assessed Value
$55,400
Average Sharp County Assessed Value
$83,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Williford, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72482 | $8,800 | $22,062 | $55,400 | $90,300 | $153,200 |
Source: Ownwell
Property Tax Bills Across Williford, Arkansas
In Williford, Sharp County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Williford, the median home price is $55,400. The tax bills vary significantly, with the 25th percentile tax bill at $123 and the 75th percentile at $434. At the 90th percentile, homeowners could see tax bills as high as $714. These figures reflect how local tax rates and assessed home values influence the financial obligations of property owners. For comparison, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. In Williford, the highest median tax bill recorded is $270 in the zip code 72482. This variability in tax bills can significantly impact homeowners, affecting their overall financial planning and housing affordability.
Average Williford Tax Bill
$270
Average Sharp County Tax Bill
$481
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Williford, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72482 | $51 | $123 | $270 | $434 | $714 |
Source: Ownwell