Amity, Arkansas Property Taxes
The median property tax rate in Amity, AR is 0.96%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value in Amity of $42,850, the typical annual property tax bill amounts to $259, which is significantly below the national median of $2,690. Property taxes in Amity are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Amity'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 Amity 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
Amity, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$411
$382
Ownwell’s Amity Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amity with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amity 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 Amity, Arkansas
Property taxes in Amity, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amity is 0.52%, lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Amity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amity 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 Amity's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71921 zip code has the highest median property tax rate of 0.52%, while the 71921 zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Amity provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amity Tax Rate
0.96%
Average Clark County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amity, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71921 | 0.10% | 0.38% | 0.96% | 0.96% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Amity, Arkansas
In Amity, 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 Clark 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 Amity, 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 Amity helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area, both at $259.00, are found in the 71921 zip code.
Average Amity Assessed Value
$42,850
Average Clark County Assessed Value
$58,450
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amity, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71921 | $7,950 | $19,625 | $42,850 | $74,925 | $116,200 |
Source: Ownwell
Property Tax Bills Across Amity, Arkansas
In Amity, located in Clark County, AR, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value of the property. For homeowners in Amity, the median home price is $42,850. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, any exemptions or deductions the homeowner may qualify for, and the specific tax rate set by local authorities. In Amity, the 25th percentile tax bill is around $90, while the 75th percentile reaches $519, and the 90th percentile can go up to $920. These property tax bills have a significant impact on homeowners, as they contribute to essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Amity's tax rates can be considered relatively moderate, offering a manageable tax burden for local homeowners.
Average Amity Tax Bill
$259
Average Clark County Tax Bill
$458
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Amity, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71921 | $29 | $90 | $259 | $519 | $920 |
Source: Ownwell