Hampton, Arkansas Property Taxes
The median property tax rate in Hampton, Arkansas 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 Hampton at $38,175, the typical annual property tax bill is $355, significantly below the national median of $2,690. Property taxes in Hampton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hampton'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 Hampton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hampton, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$344
$319
Ownwell’s Hampton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hampton 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 Hampton, Arkansas
Property taxes in Hampton, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hampton stands at 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Hampton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hampton 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 Hampton's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71744 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Hampton provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hampton Tax Rate
0.90%
Average Calhoun County Tax Rate
0.90%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hampton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71744 | 0.86% | 0.90% | 0.90% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Hampton, Arkansas
In Hampton, 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 Calhoun County Assessor 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 Hampton, 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. Hampton's median home price is $38,175, with the 25th percentile tax bill at $156 and the 75th percentile at $619. The highest and lowest median tax bills both occur in the 71744 zip code, at $355. 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 Hampton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hampton Assessed Value
$38,175
Average Calhoun County Assessed Value
$38,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hampton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71744 | $5,530 | $15,812 | $38,175 | $67,350 | $103,700 |
Source: Ownwell
Property Tax Bills Across Hampton, Arkansas
In Hampton, located in Calhoun County, AR, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value, which is determined by the local tax assessor. Homeowners in Hampton experience property tax rates that are influenced by various factors, including the property's location, size, and any applicable exemptions. The median home price in Hampton is $38,175. Property tax bills in the city vary significantly, with the 25th percentile tax bill at $156 and the 75th percentile at $619. For those at the 90th percentile, the tax bill can reach up to $959. These figures indicate that while property taxes in Hampton can be relatively low compared to the national median property tax rate of 0.99%, they still represent a significant cost for homeowners. Understanding how these factors affect property tax bills can help homeowners better manage their finances and potentially seek appeals or exemptions to lower their tax burden.
Average Hampton Tax Bill
$355
Average Calhoun County Tax Bill
$351
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hampton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71744 | $59 | $156 | $355 | $619 | $959 |
Source: Ownwell