Fountain Hill, Arkansas Property Taxes
The median property tax rate in Fountain Hill, Arkansas is 0.91%, 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 Fountain Hill at $52,350, the typical annual property tax bill amounts to $381, significantly below the national median of $2,690. Property taxes in Fountain Hill are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fountain Hill'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 Fountain Hill 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
Fountain Hill, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$476
$442
Ownwell’s Fountain Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fountain Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fountain Hill 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 Fountain Hill, Arkansas
Property taxes in Fountain Hill, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fountain Hill is 0.91%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Fountain Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, the town 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 Fountain Hill's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71642 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these areas compare with Fountain Hill provides valuable insights into the varying tax landscape across Drew County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fountain Hill Tax Rate
0.91%
Average Drew County Tax Rate
0.81%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fountain Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71642 | 0.21% | 0.54% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Fountain Hill, Arkansas
In Fountain Hill, 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 Drew County Assessor 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. Assessment notices in Fountain Hill 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 Fountain Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fountain Hill is $52,350, with the highest median tax bill recorded at $381 in the 71642 zip code.
Average Fountain Hill Assessed Value
$52,350
Average Drew County Assessed Value
$62,550
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fountain Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71642 | $13,630 | $24,150 | $52,350 | $102,150 | $145,390 |
Source: Ownwell
Property Tax Bills Across Fountain Hill, Arkansas
In Fountain Hill, Drew County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value, with local tax rates applied to this figure. For homeowners in Fountain Hill, the median home price is $52,350. The property tax bill can vary significantly, with the 25th percentile at $160 and the 75th percentile at $746, reflecting differences in property values and applicable exemptions. The highest median tax bill in the area is $381, which is consistent across different zip codes. Compared to the national median property tax rate of 0.99%, Fountain Hill offers relatively lower property taxes. This lower tax burden can be advantageous for homeowners, making it more affordable to maintain property ownership. However, it's essential for homeowners to stay informed about their property's assessed value and any changes in local tax rates to anticipate their annual tax obligations accurately.
Average Fountain Hill Tax Bill
$381
Average Drew County Tax Bill
$445
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Fountain Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71642 | $72 | $160 | $381 | $746 | $1,146 |
Source: Ownwell