Harrison, Arkansas Property Taxes
The median property tax rate in Harrison, AR is 0.56%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Harrison at $179,800, the typical annual property tax bill reaches $735, significantly below the national median of $2,690. Property taxes in Harrison are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the 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, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,007
$934
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, Arkansas
Property taxes in Harrison, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrison is 0.56%, which is lower than 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 0.56%. Understanding how these cities compare with Harrison provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrison Tax Rate
0.56%
Average Carroll County Tax Rate
0.66%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrison, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72601 | 0.24% | 0.40% | 0.56% | 0.74% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Harrison, 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 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 Harrison, 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. The median home price in Harrison is $179,800, with tax bills ranging from $437 at the 25th percentile to $2,823 at the 90th percentile. Notably, the highest and lowest median tax bills in the area are both $735, found in the 72601 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harrison Assessed Value
$179,800
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 Harrison, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72601 | $68,895 | $151,800 | $179,800 | $253,812 | $438,170 |
Source: Ownwell
Property Tax Bills Across Harrison, Arkansas
In Harrison, AR, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Harrison can expect a wide range of tax bills. For instance, the 25th percentile tax bill is $437, while the 75th percentile tax bill reaches $1,359. At the 90th percentile, tax bills can soar to $2,823. Compared to the national median property tax rate of 0.99%, Harrison's tax rates can vary, reflecting the local economic conditions and funding needs for public services. For homeowners, these property taxes significantly impact their annual expenses, influencing decisions on property investments and homeownership affordability.
Average Harrison Tax Bill
$735
Average Carroll County Tax Bill
$850
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrison, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72601 | $278 | $437 | $735 | $1,359 | $2,823 |
Source: Ownwell