Redfield, Grant County, Arkansas Property Taxes
The median property tax rate in Redfield, AR is 0.82%, slightly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Redfield at $70,800, the typical annual property tax bill reaches $547, which is significantly below the national median of $2,690. Property taxes in Redfield are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Redfield'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 Redfield or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Redfield, Grant County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$581
$539
Ownwell’s Redfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Redfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Redfield 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 Redfield, Grant County, Arkansas
Property taxes in Redfield, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Redfield is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Redfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Redfield 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 Redfield's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72132 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Redfield provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Redfield Tax Rate
0.82%
Average Grant County Tax Rate
0.85%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Redfield, Grant County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72132 | 0.61% | 0.71% | 0.82% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Redfield, Grant County, Arkansas
In Redfield, 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 Grant 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 Redfield, 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 Redfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72132, with a median bill of $547, while the lowest median tax bill is also in 72132, reflecting the same value.
Property Tax Assessment Values Across Redfield, Grant County, Arkansas
Source: Ownwell
$42,150
$92,975
$143,800
Average Redfield Assessed Value
$70,800
Average Grant County Assessed Value
$100,075
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Redfield, Grant County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72132 | $16,245 | $35,125 | $70,800 | $138,638 | $196,680 |
Source: Ownwell
Property Tax Bills Across Redfield, Grant County, Arkansas
In Redfield, located in Grant County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Redfield is $70,800. Property taxes are then determined by applying the local tax rate to this assessed value. Various factors influence the tax bill, including the home's location within specific zip codes, which can affect the rate applied. For instance, the highest and lowest median tax bills in Redfield are both recorded at $547 in the 72132 zip code. Homeowners in the 25th percentile can expect a tax bill around $250, while those in the 75th percentile may see bills up to $1,039. At the 90th percentile, tax bills can reach $1,602. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners should be aware of these factors as they significantly affect annual property tax obligations.
Average Redfield Tax Bill
$547
Average Grant County Tax Bill
$770
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Redfield, Grant County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72132 | $129 | $250 | $547 | $1,039 | $1,602 |
Source: Ownwell