Hughes, Arkansas Property Taxes
The median property tax rate in Hughes, Arkansas is 0.91%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Hughes at $45,150, the typical annual property tax bill is $375, which is significantly lower than the national median of $2,690. Property taxes in Hughes 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 Hughes'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 Hughes 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
Hughes, 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 Hughes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hughes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hughes 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 Hughes, Arkansas
Property taxes in Hughes, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hughes is 0.62%, which is lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Hughes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hughes 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 Hughes's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72348 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Hughes provides valuable insights into the varying tax landscape across St. Francis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hughes Tax Rate
0.91%
Average St. Francis County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hughes, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72348 | 0.52% | 0.76% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Hughes, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hughes, 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 Hughes, 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 Hughes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $375 in the 72348 zip code, which is also the lowest median tax bill, providing a unique opportunity for homeowners to understand their tax landscape.
Average Hughes Assessed Value
$45,150
Average St. Francis County Assessed Value
$48,600
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hughes, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72348 | $15,500 | $24,950 | $45,150 | $73,438 | $112,270 |
Source: Ownwell
Property Tax Bills Across Hughes, Arkansas
In Hughes, located in St. Francis County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The local property tax rate is then applied to this assessed value to determine the tax bill. For instance, with a median home price of $45,150, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any eligible exemptions. In Hughes, the 25th percentile tax bill is around $185, while the 75th percentile tax bill is approximately $609. For those at the 90th percentile, tax bills can reach up to $929. Comparatively, the national median property tax rate is 0.99%, making Hughes' property taxes relatively moderate. These tax obligations significantly impact homeowners by affecting their annual expenses and overall financial planning.
Average Hughes Tax Bill
$375
Average St. Francis County Tax Bill
$344
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hughes, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72348 | $86 | $185 | $375 | $609 | $929 |
Source: Ownwell