Huntsville, Arkansas Property Taxes
The median property tax rate in Huntsville, Arkansas is 0.55%, which is significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $103,250 in Huntsville, the typical annual property tax bill amounts to $558, well below the national median of $2,690. Property taxes in Huntsville 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 Huntsville'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 Huntsville or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Huntsville, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Huntsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huntsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntsville 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 Huntsville, Arkansas
Property taxes in Huntsville, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntsville is 0.55%, which is significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Huntsville set these rates annually, and they can vary across different neighborhoods. Each year, Huntsville 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 Huntsville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72740 has both the highest and lowest median property tax rate in Carroll County, standing at 0.55%. Understanding how these cities compare with Huntsville 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 Huntsville Tax Rate
0.55%
Average Carroll County Tax Rate
0.66%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntsville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72740 | 0.16% | 0.36% | 0.55% | 0.86% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Huntsville, Arkansas
In Huntsville, 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 Assessor's Office 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 Huntsville, 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 the area is $103,250. The tax bill at the 25th percentile is $221, while at the 75th percentile, it is $1,003. 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 Huntsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Huntsville Assessed Value
$103,250
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 Huntsville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72740 | $21,740 | $45,100 | $103,250 | $168,300 | $282,880 |
Source: Ownwell
Property Tax Bills Across Huntsville, Arkansas
In Huntsville, located in Carroll County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Huntsville is $103,250. Local tax authorities assess properties to determine their taxable value, which is then multiplied by the local tax rate to calculate the tax bill. The national median property tax rate is 0.99%, but local rates may vary. Several factors influence the tax bill, including the property's assessed value, any applicable exemptions, and the specific tax rates set by local jurisdictions. For instance, tax bills in Huntsville can range significantly, with the 25th percentile tax bill at $221 and the 90th percentile reaching up to $2,324. This variation highlights how different property values and exemptions can impact the final amount owed. Homeowners in Huntsville need to be aware of these factors as they directly affect their annual property tax obligations, influencing their overall cost of homeownership.
Average Huntsville Tax Bill
$558
Average Carroll County Tax Bill
$850
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntsville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72740 | $86 | $221 | $558 | $1,003 | $2,324 |
Source: Ownwell