New Edinburg, Arkansas Property Taxes
The median property tax rate in New Edinburg, Arkansas is 0.92%, which is lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $45,150 in New Edinburg, the typical annual property tax bill amounts to $416, significantly below the national median of $2,690. Property taxes in New Edinburg are based on the assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. By understanding New Edinburg's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of New Edinburg or elsewhere in Bradley County, grasping the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
New Edinburg, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$415
$385
Ownwell’s New Edinburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Edinburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Edinburg 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 New Edinburg, Arkansas
Property taxes in New Edinburg, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Edinburg is 0.92%, which is slightly below the U.S. national median of 0.99%. Local government entities within New Edinburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Edinburg 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 New Edinburg's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71660 has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with New Edinburg provides valuable insights into the varying tax landscape across Bradley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Edinburg Tax Rate
0.92%
Average Bradley County Tax Rate
1.00%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Edinburg, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71660 | 0.86% | 0.91% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across New Edinburg, Arkansas
In New Edinburg, 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 Bradley 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 New Edinburg, 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. For instance, the median home price in New Edinburg is $45,150, with the 25th percentile tax bill at $342 and the 75th percentile tax bill at $510. 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 New Edinburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Edinburg Assessed Value
$45,150
Average Bradley County Assessed Value
$39,800
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Edinburg, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71660 | $15,370 | $35,730 | $45,150 | $53,900 | $101,160 |
Source: Ownwell
Property Tax Bills Across New Edinburg, Arkansas
In New Edinburg, located in Bradley County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $45,150, homeowners can expect their property taxes to be determined by the local tax rate applied to this assessed value. The tax bill for properties in the 25th percentile is approximately $342, while those in the 75th percentile can reach around $510. For homes in the 90th percentile, tax bills can soar up to $947. These figures highlight the range and impact of property taxes on homeowners in this area, with the highest median tax bill recorded at $416 in the 71660 zip code. Compared to the national median property tax rate of 0.99%, homeowners in New Edinburg experience a varied but generally moderate property tax burden, which can influence their overall financial planning and homeownership costs.
Average New Edinburg Tax Bill
$416
Average Bradley County Tax Bill
$393
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across New Edinburg, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71660 | $197 | $342 | $416 | $510 | $947 |
Source: Ownwell