Bakersfield, Arkansas Property Taxes
The median property tax rate in Bakersfield, Arkansas is 0.69%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $135,650 in Bakersfield, the typical annual property tax bill amounts to $931, significantly below the national median of $2,690. Property taxes in Bakersfield are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Bakersfield'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 Bakersfield 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
Bakersfield, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$936
$869
Ownwell’s Bakersfield Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bakersfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bakersfield to provide a precise estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends at 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 Bakersfield, Arkansas
Property taxes in Bakersfield, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bakersfield is 0.69%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Bakersfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bakersfield 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 Bakersfield's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 65609 zip code has the highest median property tax rate of 0.69%, while the 65609 zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Bakersfield provides valuable insights into the varying tax landscape across Baxter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bakersfield Tax Rate
0.69%
Average Baxter County Tax Rate
0.65%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bakersfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65609 | 0.63% | 0.66% | 0.69% | 0.74% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Bakersfield, Arkansas
In Bakersfield, 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 Baxter 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 Bakersfield, 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 Bakersfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price is $135,650, with the lowest median tax bill at $453 and the highest median tax bill at $1,889.
Average Bakersfield Assessed Value
$135,650
Average Baxter County Assessed Value
$137,150
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bakersfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65609 | $55,910 | $60,950 | $135,650 | $266,300 | $300,920 |
Source: Ownwell
Property Tax Bills Across Bakersfield, Arkansas
In Bakersfield, Baxter County, AR, property tax bills are calculated based on the assessed value of your home, which is typically a percentage of its market value. For instance, with a median home price of $135,650, homeowners can expect varying tax bills depending on specific factors. The tax bill at the 25th percentile is around $453, while at the 75th percentile, it rises to approximately $1,756. For those at the 90th percentile, the tax bill can reach up to $1,889. These calculations consider the local tax rate and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the property tax rates in Bakersfield can significantly impact homeowners' annual expenses. A higher assessed value or fewer exemptions can lead to a higher tax bill, influencing the overall cost of owning a home. Understanding these factors is crucial for homeowners to manage their finances effectively and anticipate their annual property tax obligations.
Average Bakersfield Tax Bill
$931
Average Baxter County Tax Bill
$862
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bakersfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65609 | $438 | $453 | $931 | $1,756 | $1,889 |
Source: Ownwell