Watson, Arkansas Property Taxes
The median property tax rate in Watson, AR is 0.89%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Watson at $56,850, the typical annual property tax bill amounts to $419, which is significantly lower than the national median of $2,690. Property taxes in Watson 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 Watson'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 Watson 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
Watson, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$506
Ownwell’s Watson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Watson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Watson 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 Watson, Arkansas
Property taxes in Watson, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Watson is 0.89%, which is below the U.S. national median of 0.99%. Local government entities within Watson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Watson 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 Watson's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71674 has a median property tax rate of 0.89%. Understanding how these cities compare with Watson 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 Watson Tax Rate
0.89%
Average Desha County Tax Rate
0.95%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Watson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71674 | 0.47% | 0.64% | 0.89% | 0.98% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Watson, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Watson, Arkansas. 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 Watson, 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 Watson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $419, occurring in the 71674 zip code.
Average Watson Assessed Value
$56,850
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 Watson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71674 | $10,520 | $21,250 | $56,850 | $106,100 | $176,590 |
Source: Ownwell
Property Tax Bills Across Watson, Arkansas
In Watson, located in Desha County, AR, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the home's market value. Factors such as the local tax rate and any applicable exemptions play a crucial role in determining the final tax bill. For instance, the median home price in Watson is $56,850, and homeowners can expect a tax bill ranging from $191 at the 25th percentile to $1,464 at the 90th percentile. The highest median tax bill in the area is $419, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax rate can be advantageous for homeowners, making Watson an attractive place for those looking to minimize their property tax burden. Homeowners should be aware of how these factors influence their tax bills to better manage their finances and take advantage of any potential exemptions or appeals available to them.
Average Watson Tax Bill
$419
Average Desha County Tax Bill
$449
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Watson, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71674 | $86 | $191 | $419 | $842 | $1,464 |
Source: Ownwell