Bentonville, Arkansas Property Taxes
The median property tax rate in Bentonville, AR is 1.19%, notably higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Bentonville at $271,550, the typical annual property tax bill reaches $2,998, surpassing the national median of $2,690. Property taxes in Bentonville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Bentonville'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 Bentonville 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
Bentonville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$3,231
Ownwell’s Bentonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bentonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bentonville 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 Bentonville, Arkansas
Property taxes in Bentonville, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bentonville is 1.19%, higher than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Bentonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bentonville 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 Bentonville's effective property tax rate to other areas in Arkansas and the national median. For comparison, the 72713 zip code has the highest median property tax rate of 1.23%, while the 72712 zip code has the lowest median tax rate of 1.12%. Understanding how these areas compare with Bentonville provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bentonville Tax Rate
1.19%
Average Benton County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bentonville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72712 | 0.76% | 0.96% | 1.12% | 1.24% | 1.24% |
| 72713 | 1.03% | 1.18% | 1.23% | 1.24% | 1.24% |
| 72719 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
| 72762 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Bentonville, Arkansas
In Bentonville, 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 Benton County Assessor 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 Bentonville, 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 Bentonville stands at $271,550, with the 25th percentile tax bill at $2,129 and the 75th percentile tax bill at $4,327. The highest median tax bill is found in zip code 72713 at $3,209, while the lowest median tax bill is in zip code 72762 at $204. 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 Bentonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bentonville Assessed Value
$271,550
Average Benton County Assessed Value
$211,150
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bentonville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72712 | $154,550 | $195,500 | $270,900 | $418,550 | $545,200 |
| 72713 | $168,500 | $201,588 | $272,500 | $345,275 | $450,960 |
| 72719 | $167,400 | $167,400 | $167,400 | $167,400 | $167,400 |
| 72762 | $18,150 | $18,150 | $18,150 | $18,150 | $18,150 |
Source: Ownwell
Property Tax Bills Across Bentonville, Arkansas
In Bentonville, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this percentage can vary by jurisdiction. In Benton County, the tax rate is applied to the assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the home's location, size, and condition. For example, homes in the 72713 zip code have the highest median tax bill at $3,209, while those in the 72762 zip code have the lowest at $204. The median home price in Bentonville is $271,550, and property tax bills can range significantly, with the 25th percentile at $2,129 and the 75th percentile at $4,327. These tax bills impact homeowners by contributing to their annual housing costs and can influence decisions about buying or selling property. Higher property taxes can affect affordability, while lower taxes can make homeownership more accessible.
Average Bentonville Tax Bill
$2,998
Average Benton County Tax Bill
$2,090
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bentonville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72712 | $1,478 | $1,955 | $2,834 | $4,556 | $6,149 |
| 72713 | $1,954 | $2,377 | $3,209 | $4,168 | $5,363 |
| 72719 | $1,885 | $1,885 | $1,885 | $1,885 | $1,885 |
| 72762 | $204 | $204 | $204 | $204 | $204 |
Source: Ownwell