New Edinburg, Arkansas Property Taxes
The median property tax rate in New Edinburg, AR is 0.94%, 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 New Edinburg at $43,950, the typical annual property tax bill reaches $404, which is significantly below the national median of $2,690. Property taxes in New Edinburg are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding New Edinburg'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 New Edinburg 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
New Edinburg, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$413
$383
Ownwell’s New Edinburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Edinburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Edinburg 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 New Edinburg, Arkansas
Property taxes in New Edinburg, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Edinburg is 0.94%, which is slightly below the U.S. national median of 0.99%. Local government entities within New Edinburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Edinburg 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 New Edinburg's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71660 zip code, which encompasses New Edinburg, has a median property tax rate of 0.94%. Understanding how New Edinburg compares with other areas provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Edinburg Tax Rate
0.94%
Average Cleveland County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Edinburg, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71660 | 0.66% | 0.78% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across New Edinburg, Arkansas
In New Edinburg, 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 Cleveland 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. 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. For instance, the highest median tax bill in New Edinburg is $404.00 in zip code 71660, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Edinburg Assessed Value
$43,950
Average Cleveland County Assessed Value
$55,200
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Edinburg, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71660 | $6,470 | $19,975 | $43,950 | $79,375 | $120,420 |
Source: Ownwell
Property Tax Bills Across New Edinburg, Arkansas
In New Edinburg, Cleveland County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners, this assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the tax bill include the home's assessed value, which in New Edinburg has a median home price of $43,950, and the specific tax rate applied by the county. Homeowners in this area can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $208, while those in the 75th percentile pay approximately $678. At the higher end, the 90th percentile tax bill reaches about $998. These figures highlight the range of property tax burdens that homeowners might face, depending on their property's valuation. Compared to the national median property tax rate of 0.99%, New Edinburg's property tax rates can be relatively modest, offering some financial relief to local homeowners.
Average New Edinburg Tax Bill
$404
Average Cleveland County Tax Bill
$492
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across New Edinburg, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71660 | $94 | $208 | $404 | $678 | $998 |
Source: Ownwell