Dewitt, Arkansas Property Taxes
The median property tax rate in DeWitt, AR is 0.86%, slightly higher than the Arkansas state median of 0.84% but below the national median of 0.99%. With a median home value of $96,495 in DeWitt, the typical annual property tax bill is $838, which is significantly lower than the national median of $2,690. Property taxes in DeWitt 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 DeWitt'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 DeWitt 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
Dewitt, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$830
Ownwell’s DeWitt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DeWitt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DeWitt 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 Dewitt, Arkansas
Property taxes in DeWitt, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in DeWitt is 0.86%, lower than the U.S. national median of 0.99%. Local government entities within DeWitt set these rates annually, and they can vary significantly across different neighborhoods. Each year, DeWitt 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 DeWitt's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72042 has both the highest and lowest median property tax rate of 0.86%. Understanding how these cities compare with DeWitt provides valuable insights into the varying tax landscape across Arkansas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dewitt Tax Rate
0.86%
Average Arkansas County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dewitt, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72042 | 0.30% | 0.67% | 0.86% | 0.92% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Dewitt, Arkansas
In Dewitt, 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 Arkansas 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 Dewitt, 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 Dewitt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both at $838, are found in the 72042 zip code.
Average Dewitt Assessed Value
$96,495
Average Arkansas County Assessed Value
$70,958
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dewitt, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72042 | $17,915 | $25,316 | $96,495 | $231,550 | $325,158 |
Source: Ownwell
Property Tax Bills Across Dewitt, Arkansas
In DeWitt, Arkansas, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The tax rate is then applied to the assessed value to determine the annual property tax bill. Several factors influence this calculation, including the property's location, size, and any applicable exemptions or deductions. For homeowners in DeWitt, the property tax rate can significantly impact their finances. For example, the highest median tax bill in the area is $838, which is notably lower than the national median property tax rate of 0.99%. Homeowners in the 25th percentile might pay around $206, while those in the 75th percentile could see tax bills as high as $1,675. At the 90th percentile, tax bills can reach up to $2,976. Understanding these factors can help homeowners budget more effectively and potentially seek out exemptions to reduce their tax liabilities.
Average Dewitt Tax Bill
$838
Average Arkansas County Tax Bill
$414
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Dewitt, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72042 | $118 | $206 | $838 | $1,675 | $2,976 |
Source: Ownwell