Decatur, Arkansas Property Taxes
The median property tax rate in Decatur, Arkansas is 0.78%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $129,475 in Decatur, the typical annual property tax bill amounts to $999, significantly below the national median of $2,690. Property taxes in Decatur are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Decatur'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 Decatur or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Decatur, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Decatur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Decatur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Decatur 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 Decatur, Arkansas
Property taxes in Decatur, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Decatur is 0.78%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Decatur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Decatur 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 Decatur's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72722 zip code has the highest median property tax rate of 0.78%, while the 72722 zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Decatur 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 Decatur Tax Rate
0.78%
Average Benton County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Decatur, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72722 | 0.57% | 0.69% | 0.78% | 0.94% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Decatur, Arkansas
In Decatur, 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 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 Decatur, 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 Decatur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Decatur is $999.00 in the 72722 zip code, while the lowest median tax bill is also $999.00 in the same zip code.
Average Decatur Assessed Value
$129,475
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 Decatur, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72722 | $44,015 | $81,550 | $129,475 | $193,762 | $302,620 |
Source: Ownwell
Property Tax Bills Across Decatur, Arkansas
In Decatur, Benton County, AR, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Decatur is $129,475. Property tax rates are applied to the assessed value to calculate the annual tax bill. Factors like the property's location and any applicable exemptions or deductions play a significant role in determining the final amount. Homeowners in Decatur experience varying tax bills, with the 25th percentile at $619 and the 75th percentile at $1,506. The highest median tax bill in the area is $999, and the lowest is also $999, both in the 72722 zip code. These figures illustrate a range of tax liabilities that can impact household budgets differently. Compared to the national median property tax rate of 0.99%, Decatur’s property tax rates can be seen as relatively moderate, providing a balanced fiscal environment for homeowners.
Average Decatur Tax Bill
$999
Average Benton County Tax Bill
$2,090
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Decatur, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72722 | $338 | $619 | $999 | $1,506 | $2,456 |
Source: Ownwell