Harriet, Arkansas Property Taxes
The median property tax rate in Harriet, AR is 0.82%, slightly below the Arkansas state median of 0.84% and the national median of 0.99%. With a median home value of $62,525 in Harriet, the typical annual property tax bill is approximately $512, which is significantly lower than the national median of $2,690. Property taxes in Harriet are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Harriet'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 Harriet or another part of the city, gaining a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harriet, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$513
$476
Ownwell’s Harriet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harriet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harriet 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 Harriet, Arkansas
Property taxes in Harriet, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harriet is 0.82%, 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 Harriet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harriet 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 Harriet's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72639 zip code has the highest median property tax rate of 0.82%, while the 72639 zip code also has the lowest median tax rate of 0.82%. Understanding how these areas compare with Harriet 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 Harriet Tax Rate
0.82%
Average Baxter County Tax Rate
0.65%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harriet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72639 | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Harriet, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harriet, 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 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 Harriet, 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. The median home price in Harriet is $62,525, with tax bills ranging from $509 at the 25th percentile to $515 at the 90th percentile. The zip code 72639 has the highest and lowest median tax bill, both at $512. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Harriet Assessed Value
$62,525
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 Harriet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72639 | $62,065 | $62,238 | $62,525 | $62,812 | $62,985 |
Source: Ownwell
Property Tax Bills Across Harriet, Arkansas
In Harriet, AR, located in Baxter County, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The tax rate, applied to this assessed value, determines the final tax bill. Factors such as property location, size, and usage influence the assessed value, along with any applicable exemptions or deductions. For homeowners in Harriet, the median home price is $62,525. With a property tax rate slightly above the national median of 0.99%, the typical tax bill ranges from $509 at the 25th percentile to $515 at the 90th percentile. This variation is relatively narrow, indicating a consistent tax burden across different property values. These property taxes contribute to local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Understanding how these taxes are calculated helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Harriet Tax Bill
$512
Average Baxter County Tax Bill
$862
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Harriet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72639 | $508 | $509 | $512 | $514 | $515 |
Source: Ownwell