Atkins, Arkansas Property Taxes
The median property tax rate in Atkins, AR is 0.61%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $71,650 in Atkins, the typical annual property tax bill amounts to $359, which is well below the national median of $2,690. Property taxes in Atkins are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Atkins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Atkins or another part of Conway County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Atkins, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$437
$406
Ownwell’s Atkins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Atkins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atkins 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 Atkins, Arkansas
Property taxes in Atkins, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atkins is 0.61%, lower than both the Arkansas state median of 0.62% and the U.S. national median of 0.99%. Local government entities within Atkins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atkins 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 Atkins' effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72823 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Atkins provides valuable insights into the varying tax landscape across Conway, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atkins Tax Rate
0.61%
Average Conway County Tax Rate
0.63%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atkins, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72823 | 0.10% | 0.34% | 0.61% | 0.93% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Atkins, Arkansas
In Atkins, 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 Conway County Assessor 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 Atkins, 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. For example, the median home price in Atkins is $71,650, with tax bills ranging from $115 at the 25th percentile to $751 at the 75th percentile, and up to $1,432 at the 90th percentile. 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 Atkins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Atkins Assessed Value
$71,650
Average Conway County Assessed Value
$84,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atkins, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72823 | $11,525 | $30,662 | $71,650 | $120,862 | $194,835 |
Source: Ownwell
Property Tax Bills Across Atkins, Arkansas
In Atkins, Arkansas, property tax bills are calculated based on the assessed value of a home, which is determined by a percentage of the market value. Homeowners in Conway County see varying tax bills, with the 25th percentile at $115 and the 75th percentile at $751. The top 10% of tax bills reach up to $1,432. The median home price in Atkins is $71,650, and the median tax bill stands at $359, which is significantly lower than the national median property tax rate of 0.99%. Factors such as property location, improvements, and market conditions influence the assessed value, directly impacting the tax bill. Lower property taxes can make homeownership more affordable but may also reflect fewer local services. Understanding these dynamics helps homeowners anticipate their financial obligations and plan accordingly.
Average Atkins Tax Bill
$359
Average Conway County Tax Bill
$532
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Atkins, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72823 | $32 | $115 | $359 | $751 | $1,432 |
Source: Ownwell