Big Flat, Arkansas Property Taxes
The median property tax rate in Big Flat, AR is 0.65%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $50,600 in Big Flat, the typical annual property tax bill amounts to $290, well below the national median of $2,690. Property taxes in Big Flat are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Big Flat'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 Big Flat or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Big Flat, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$329
$305
Ownwell’s BIG FLAT Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in BIG FLAT. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in BIG FLAT to provide an accurate estimate of your property tax bill. This tool offers crucial insights into your potential tax liabilities. For those interested in more detailed trends and information at a neighborhood level, additional localized data is available below. Your property's assessed value, determined by the county for tax purposes, takes into account any applicable exemptions, ensuring a precise calculation of your tax obligations.
Property Tax Rates Across Big Flat, Arkansas
Property taxes in Big Flat, Arkansas, play a critical role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Flat is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Big Flat set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Flat 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 Big Flat's effective property tax rate to other regions in Arkansas and the national median. For comparison, the zip code 72617 has both the highest and lowest median property tax rate in the area, standing at 0.65%. Understanding how these cities compare with Big Flat 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 Big Flat Tax Rate
0.65%
Average Baxter County Tax Rate
0.65%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Flat, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72617 | 0.32% | 0.37% | 0.65% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Big Flat, Arkansas
In BIG FLAT, 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 BIG FLAT, 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 BIG FLAT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $290.00, found in the 72617 zip code.
Average Big Flat Assessed Value
$50,600
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 Big Flat, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72617 | $14,755 | $25,625 | $50,600 | $101,675 | $173,290 |
Source: Ownwell
Property Tax Bills Across Big Flat, Arkansas
In Big Flat, located in Baxter County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $50,600, the assessed value is determined by local regulations and then multiplied by the tax rate. The national median property tax rate is 0.99%, providing a point of comparison. Homeowners in Big Flat can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $165, while at the 75th percentile, they rise to approximately $504. The highest median tax bill in the area is $290.00, which is consistent across the zip code 72617. These variations reflect differences in property values and assessment practices. Understanding these factors is crucial for homeowners, as property taxes contribute to local services and infrastructure. By knowing how tax bills are determined, residents can better anticipate their financial obligations and plan accordingly.
Average Big Flat Tax Bill
$290
Average Baxter County Tax Bill
$862
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Flat, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72617 | $100 | $165 | $290 | $504 | $793 |
Source: Ownwell