Canehill, Arkansas Property Taxes
The median property tax rate in Canehill, AR is 0.31%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $135,150 in Canehill, the typical annual property tax bill is $418, well below the national median of $2,690. Property taxes in Canehill are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Canehill'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 Canehill 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
Canehill, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$419
Ownwell’s Canehill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canehill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canehill 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 Canehill, Arkansas
Property taxes in Canehill, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canehill is 0.31%, which is significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Canehill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canehill 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 Canehill's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in Arkansas is found in Pulaski County, with a rate of 0.63%, while the lowest median tax rate is in Newton County, at just 0.33%. Understanding how these counties compare with Canehill provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Canehill Tax Rate
0.31%
Average Crawford County Tax Rate
0.52%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canehill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72717 | 0.31% | 0.31% | 0.31% | 0.31% | 0.31% |
Source: Ownwell
Property Tax Assessment Values Across Canehill, Arkansas
In Canehill, 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 county's 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 Canehill, 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 Canehill 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 Canehill are both $418, found in the 72717 zip code.
Average Canehill Assessed Value
$135,150
Average Crawford County Assessed Value
$143,650
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Canehill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72717 | $135,150 | $135,150 | $135,150 | $135,150 | $135,150 |
Source: Ownwell
Property Tax Bills Across Canehill, Arkansas
In Canehill, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is typically a percentage of the home's market value. For example, if the market value of a home is $135,150, the assessed value might be a fraction of this amount, depending on local regulations. Several factors influence the final tax bill, including the property's location, its assessed value, and the tax rate set by local authorities. In Canehill, the median property tax bill is $418, which is significantly lower than the national median property tax rate of 0.99%. This lower tax burden can be beneficial for homeowners, making it more affordable to own property in this region. Homeowners in Canehill benefit from relatively low property taxes, which can positively impact their overall cost of living. This affordability can attract new residents and contribute to the area's economic stability and growth.
Average Canehill Tax Bill
$418
Average Crawford County Tax Bill
$716
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Canehill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72717 | $418 | $418 | $418 | $418 | $418 |
Source: Ownwell