Harrison, Boone County, Arkansas Property Taxes
The median property tax rate in Harrison, AR is 0.90%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Harrison at $109,925, the typical annual property tax bill is $922, which is below the national median of $2,690. Property taxes in Harrison are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Harrison'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 Harrison 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
Harrison, Boone County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$989
$918
Ownwell’s Harrison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrison 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 Harrison, Boone County, Arkansas
Property taxes in Harrison, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrison is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Harrison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrison 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 Harrison's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72601 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Harrison provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrison Tax Rate
0.90%
Average Boone County Tax Rate
0.89%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrison, Boone County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72601 | 0.66% | 0.75% | 0.90% | 0.96% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Harrison, Boone County, Arkansas
In Harrison, 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 Boone 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. 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 Harrison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Harrison both stand at $923 in the 72601 zip code.
Property Tax Assessment Values Across Harrison, Boone County, Arkansas
Source: Ownwell
$70,200
$97,650
$125,100
Average Harrison Assessed Value
$109,925
Average Boone County Assessed Value
$102,750
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrison, Boone County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72601 | $34,100 | $66,500 | $109,950 | $165,800 | $230,230 |
Source: Ownwell
Property Tax Bills Across Harrison, Boone County, Arkansas
In Harrison, AR, property tax bills are calculated based on the assessed value of the property, which is determined by the Boone County assessor. The assessed value is typically a percentage of the market value of the home. For instance, if your home has a median market price of $109,925, the assessed value will be a fraction of this amount, depending on local regulations. Once the assessed value is established, the local tax rate, which varies annually, is applied to calculate the tax bill. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence both the assessed value and the tax rate. For homeowners in Harrison, property tax bills can vary widely. For example, the 25th percentile tax bill is around $565, while the 75th percentile reaches $1,409, and the 90th percentile can go up to $2,029. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents.
Average Harrison Tax Bill
$922
Average Boone County Tax Bill
$870
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrison, Boone County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72601 | $309 | $565 | $923 | $1,409 | $2,029 |
Source: Ownwell