Solgohachia, Arkansas Property Taxes
The median property tax rate in Solgohachia, AR is 0.61%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Solgohachia at $82,900, the typical annual property tax bill is $465, significantly less than the national median of $2,690. Property taxes in Solgohachia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Solgohachia'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 Solgohachia 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
Solgohachia, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$506
Ownwell’s Solgohachia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Solgohachia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Solgohachia 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 Solgohachia, Arkansas
Property taxes in Solgohachia, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Solgohachia is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Solgohachia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Solgohachia 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 Solgohachia's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72156 has both the highest and the lowest median property tax rate of 0.61%. Understanding how these areas compare with Solgohachia provides valuable insights into the varying tax landscape across Conway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Solgohachia 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 Solgohachia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72156 | 0.16% | 0.33% | 0.61% | 0.92% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Solgohachia, Arkansas
In Solgohachia, 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 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 Solgohachia, 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. The median home price in Solgohachia is $82,900, with the highest median tax bill being $465 in zip code 72156. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Solgohachia Assessed Value
$82,900
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 Solgohachia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72156 | $17,975 | $45,088 | $82,900 | $146,600 | $228,100 |
Source: Ownwell
Property Tax Bills Across Solgohachia, Arkansas
In Solgohachia, Conway County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Solgohachia is $82,900. The property tax rate in the area is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Solgohachia, property tax bills can vary significantly. The 25th percentile tax bill is around $193, while the 75th percentile reaches $910. At the higher end, the 90th percentile tax bill is approximately $1,513. The highest median tax bill in the area is $465, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund essential local services like schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Solgohachia Tax Bill
$465
Average Conway County Tax Bill
$532
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Solgohachia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72156 | $68 | $193 | $465 | $910 | $1,513 |
Source: Ownwell