Sulphur Springs, Arkansas Property Taxes
The median property tax rate in Sulphur Springs, AR is 0.75%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $101,350 in Sulphur Springs, the typical annual property tax bill amounts to $702, significantly below the national median of $2,690. Property taxes here are calculated based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Sulphur Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sulphur Springs or another part of Benton County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sulphur Springs, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$760
$705
Ownwell’s Sulphur Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sulphur Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sulphur Springs 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 Sulphur Springs, Arkansas
Property taxes in Sulphur Springs, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sulphur Springs is 0.75%, lower than the U.S. national median of 0.99%. Local government entities within Sulphur Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sulphur Springs 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 Sulphur Springs' effective property tax rate to other counties in Arkansas and the national median. For comparison, the ZIP code 72768 has the highest median property tax rate of 0.75%, while the same ZIP code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Sulphur Springs 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 Sulphur Springs Tax Rate
0.75%
Average Benton County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sulphur Springs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72768 | 0.54% | 0.65% | 0.75% | 0.89% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Sulphur Springs, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sulphur Springs, 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 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 Sulphur Springs, 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 Sulphur Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $702 in the 72768 zip code, which also has the lowest median tax bill at $702.
Property Tax Assessment Values Across Sulphur Springs, Arkansas
Source: Ownwell
$13,350
$211,725
$410,100
Average Sulphur Springs Assessed Value
$101,350
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 Sulphur Springs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72768 | $27,620 | $57,550 | $101,350 | $169,690 | $281,216 |
Source: Ownwell
Property Tax Bills Across Sulphur Springs, Arkansas
Property tax bills in Sulphur Springs, Benton County, AR are determined by assessing the market value of a property and applying the local tax rate. The assessed value is typically a percentage of the market value, and this figure is then multiplied by the property tax rate set by the local government. For instance, with a median home price of $101,350, homeowners can expect their tax bill to vary significantly based on their property's assessed value and the specific rate applied. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value. In Benton County, the 25th percentile tax bill is around $426, while at the 75th percentile, it reaches $1226. The highest median tax bill in the area is $702, found in zip code 72768. These taxes fund essential services like schools, public safety, and infrastructure, directly impacting homeowners by contributing to the overall quality of life in the community.
Average Sulphur Springs Tax Bill
$702
Average Benton County Tax Bill
$2,090
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Sulphur Springs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72768 | $190 | $426 | $702 | $1,226 | $2,100 |
Source: Ownwell