Gentry, Arkansas Property Taxes
The median property tax rate in Gentry, AR, is 0.95%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $161,700 in Gentry, the typical annual property tax bill amounts to $1,497, which is lower than the national median of $2,690. Property taxes in Gentry are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Gentry'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 Gentry 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
Gentry, 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 Gentry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gentry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gentry 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 Gentry, Arkansas
Property taxes in Gentry, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gentry is 0.52%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Gentry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gentry 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 Gentry's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72734 has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Gentry 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 Gentry Tax Rate
0.95%
Average Benton County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gentry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72734 | 0.68% | 0.81% | 0.95% | 1.07% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Gentry, Arkansas
In Gentry, 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 Gentry, 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 Gentry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72734 has the highest and lowest median tax bill at $1,497.
Average Gentry Assessed Value
$161,700
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 Gentry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72734 | $60,070 | $105,412 | $161,700 | $212,838 | $300,560 |
Source: Ownwell
Property Tax Bills Across Gentry, Arkansas
In Gentry, Benton County, AR, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Gentry is $161,700, which provides a baseline for calculating the tax bill. Homeowners in this area typically see tax bills ranging from $877 at the 25th percentile to $2,779 at the 90th percentile, reflecting variations based on property values and applicable exemptions. The highest and lowest median tax bills in Gentry are both $1,497, indicating a consistent application of tax rates across different properties. Compared to the national median property tax rate of 0.99%, Gentry's tax rates can be competitive, potentially providing some relief to homeowners. These tax bills fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding how these factors interplay helps homeowners anticipate their financial obligations and the benefits they receive in return.
Average Gentry Tax Bill
$1,497
Average Benton County Tax Bill
$2,090
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Gentry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72734 | $495 | $877 | $1,497 | $2,061 | $2,779 |
Source: Ownwell