Hardy, Arkansas Property Taxes
The median property tax rate in Hardy, AR is 0.65%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Hardy at $55,675, the typical annual property tax bill is $311, well below the national median of $2,690. Property taxes in Hardy are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hardy'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 Hardy 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
Hardy, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$362
$336
Ownwell’s Hardy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hardy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hardy 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 Hardy, Arkansas
Property taxes in Hardy, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hardy is 0.65%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Hardy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hardy 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 Hardy's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72542 has both the highest and lowest median property tax rate of 0.65%, aligning with Hardy's rate. Understanding how these cities compare with Hardy provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hardy Tax Rate
0.65%
Average Fulton County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hardy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72542 | 0.43% | 0.49% | 0.65% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Hardy, Arkansas
In Hardy, 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 Fulton 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 Hardy, 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 Hardy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 72542, with a median tax bill of $311.
Average Hardy Assessed Value
$55,675
Average Fulton County Assessed Value
$68,050
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hardy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72542 | $11,410 | $27,625 | $55,675 | $92,275 | $137,290 |
Source: Ownwell
Property Tax Bills Across Hardy, Arkansas
In Hardy, located in Fulton County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners in Hardy, the median home price is $55,675. The property tax rate in Arkansas is applied to the assessed value to determine the annual tax bill. Factors such as the property's location, size, and condition can influence its assessed value. Homeowners in Hardy can expect their property tax bills to vary. For instance, the tax bill at the 25th percentile is around $173, while at the 75th percentile, it rises to approximately $523. The 90th percentile tax bill reaches up to $755. These figures illustrate the range of property tax obligations within the area, with the highest median tax bill recorded at $311 in the 72542 zip code. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly, ensuring they are prepared for their property tax obligations.
Average Hardy Tax Bill
$311
Average Fulton County Tax Bill
$483
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hardy, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72542 | $81 | $173 | $311 | $523 | $755 |
Source: Ownwell