Lead Hill, Arkansas Property Taxes
The median property tax rate in Lead Hill, AR is 0.89%, which is slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $70,200 in Lead Hill, the typical annual property tax bill amounts to $636, significantly lower than the national median of $2,690. Property taxes in Lead Hill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Lead Hill's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lead Hill or another part of Boone County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lead Hill, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$625
Ownwell’s Lead Hill Property Tax Bill Calculator allows homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Lead Hill with just two key pieces of information. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lead Hill to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Boone County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Lead Hill, Arkansas
Property taxes in Lead Hill, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lead Hill is 0.89%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Lead Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lead Hill 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 Lead Hill's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72644 zip code has the median property tax rate of 0.89%. Understanding how these cities compare with Lead Hill 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 Lead Hill Tax Rate
0.89%
Average Boone County Tax Rate
0.89%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lead Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72644 | 0.74% | 0.89% | 0.89% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Lead Hill, Arkansas
In Lead Hill, 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. In Lead Hill, 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 Lead Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $70,200, with the highest and lowest median tax bills both at $636 in zip code 72644.
Average Lead Hill Assessed Value
$70,200
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 Lead Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72644 | $13,720 | $37,350 | $70,200 | $111,950 | $177,810 |
Source: Ownwell
Property Tax Bills Across Lead Hill, Arkansas
In Lead Hill, Boone County, AR, 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 market value of the property. Homeowners in Lead Hill typically see property tax bills ranging from $348 at the 25th percentile to $1,560 at the 90th percentile. The median home price is $70,200, which influences the overall tax bill. The tax rate applied to the assessed value in Lead Hill is crucial in determining the final tax bill. While the national median property tax rate is 0.99%, local rates can vary, impacting how much homeowners pay annually. For example, the highest and lowest median tax bills in Lead Hill are both $636, indicating a consistent tax rate across different properties within the same ZIP code. These property taxes fund essential public services, including schools, infrastructure, and emergency services, directly affecting the quality of life for residents.
Average Lead Hill Tax Bill
$636
Average Boone County Tax Bill
$870
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Lead Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72644 | $136 | $348 | $636 | $1,004 | $1,560 |
Source: Ownwell