Snow Lake, Arkansas Property Taxes
The median property tax rate in Snow Lake, AR is 0.78%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $60,600 in Snow Lake, the typical annual property tax bill amounts to $476, significantly below the national median of $2,690. Property taxes in Snow Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Snow Lake'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 Snow Lake or another part of Desha County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Snow Lake, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$473
Ownwell’s Snow Lake Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Snow Lake with just two key data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Snow Lake to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Snow Lake, Arkansas
Property taxes in Snow Lake, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Snow Lake is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Snow Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Snow Lake 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 Snow Lake's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72379 zip code has the highest median property tax rate of 0.78%, while the 72379 zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Snow Lake 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 Snow Lake Tax Rate
0.78%
Average Desha County Tax Rate
0.95%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Snow Lake, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72379 | 0.58% | 0.75% | 0.78% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Snow Lake, Arkansas
In Snow Lake, 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 Snow Lake, 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. The median home price in Snow Lake is $60,600, with tax bills ranging from $269 at the 25th percentile to $1,475 at the 90th percentile. The highest and lowest median tax bills both stand at $476 in the zip code 72379. 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 Snow Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Snow Lake Assessed Value
$60,600
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 Snow Lake, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72379 | $14,340 | $34,600 | $60,600 | $99,688 | $192,500 |
Source: Ownwell
Property Tax Bills Across Snow Lake, Arkansas
In Snow Lake, located in Desha County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. For homeowners, this means that the assessed value directly influences the amount they owe in property taxes. Factors such as the local tax rate and any applicable exemptions also play a significant role in determining the final tax bill. The median home price in Snow Lake is $60,600, leading to varying tax bills across different percentiles. For instance, the 25th percentile tax bill is $269, while the 75th percentile reaches $761. At the 90th percentile, homeowners might see a tax bill as high as $1,475. Compared to the national median property tax rate of 0.99%, Snow Lake's tax rates reflect the local economic conditions and property values. These taxes are crucial for funding local services, impacting homeowners by contributing to community resources such as schools, infrastructure, and emergency services.
Average Snow Lake Tax Bill
$476
Average Desha County Tax Bill
$449
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Snow Lake, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72379 | $135 | $269 | $476 | $761 | $1,475 |
Source: Ownwell