Dermott, Arkansas Property Taxes
The median property tax rate in Dermott, AR is 0.88%, 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 Dermott at $55,575, the typical annual property tax bill amounts to $433, which is significantly lower than the national median of $2,690. Property taxes in Dermott are calculated based on the tax assessed value, often falling below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Dermott'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 Dermott or another part of the city, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dermott, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$489
$454
Ownwell’s Dermott Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dermott with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dermott 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 Dermott, Arkansas
Property taxes in Dermott, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dermott is 0.88%, which is slightly below the U.S. national median of 0.99%. Local government entities within Dermott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dermott 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 Dermott's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71638 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Dermott provides valuable insights into the varying tax landscape across Desha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dermott Tax Rate
0.88%
Average Desha County Tax Rate
0.95%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dermott, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71638 | 0.57% | 0.64% | 0.88% | 0.97% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Dermott, Arkansas
In Dermott, 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 Desha 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 Dermott, 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 Dermott helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The city’s median home price is $55,575, with tax bills ranging from $247 at the 25th percentile to $1,063 at the 90th percentile. The highest and lowest median tax bills are both $433, found in zip code 71638.
Average Dermott Assessed Value
$55,575
Average Desha County Assessed Value
$52,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dermott, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71638 | $13,075 | $26,362 | $55,575 | $92,438 | $121,455 |
Source: Ownwell
Property Tax Bills Across Dermott, Arkansas
In Dermott, located in Desha County, AR, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is typically a percentage of the property's market value. For instance, if a home in Dermott has a median home price of $55,575, the tax bill is derived from this assessed value. Homeowners in Dermott can expect their tax bills to vary significantly, with the 25th percentile tax bill at $247 and the 75th percentile tax bill reaching $671. At the higher end, the 90th percentile tax bill can go up to $1,063. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Dermott's property tax rates can be considered relatively moderate. However, the exact impact on homeowners can vary depending on the specific assessed value of their property and the applicable tax rates set by local authorities. This ensures that property taxes are fairly distributed based on property values within the community.
Average Dermott Tax Bill
$433
Average Desha County Tax Bill
$449
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Dermott, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71638 | $81 | $247 | $433 | $671 | $1,063 |
Source: Ownwell