Garfield, Arkansas Property Taxes
The median property tax rate in Garfield, AR is 0.96%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Garfield, the typical annual property tax bill is $233, significantly lower than the national median of $2,690. Property taxes in Garfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Garfield'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 Garfield 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
Garfield, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$233
$216
Ownwell’s Garfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garfield 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 Garfield, Arkansas
Property taxes in Garfield, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garfield is 0.53%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Garfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garfield 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 Garfield's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72732 has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Garfield provides valuable insights into the varying tax landscape across Benton, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garfield Tax Rate
0.96%
Average Carroll County Tax Rate
0.66%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72732 | 0.96% | 0.96% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Garfield, Arkansas
In Garfield, 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 Carroll 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 Garfield, 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 Garfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in the 72732 zip code, each at $233.
Average Garfield Assessed Value
$24,250
Average Carroll County Assessed Value
$140,725
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72732 | $24,250 | $24,250 | $24,250 | $24,250 | $24,250 |
Source: Ownwell
Property Tax Bills Across Garfield, Arkansas
In Garfield, located in Carroll County, AR, property tax bills are calculated based on the assessed value of the property, which is a percentage of the property's market value. The median home price in Garfield is $24,250. Local tax authorities determine the assessed value, and the property tax rate is applied to this value to calculate the annual tax bill. For homeowners in Garfield, the tax bills can vary, but the data shows that the tax bill at the 25th, 75th, and 90th percentiles is consistently $233. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Garfield's property taxes are relatively low, which can be a significant advantage for homeowners. This lower tax burden can make owning a home in Garfield more affordable, contributing to the overall appeal of the area for potential buyers.
Average Garfield Tax Bill
$233
Average Carroll County Tax Bill
$850
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Garfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72732 | $233 | $233 | $233 | $233 | $233 |
Source: Ownwell