Knobel, Arkansas Property Taxes
The median property tax rate in Knobel, AR is 0.61%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Knobel at $85,750, the typical annual property tax bill is $524, well below the national median of $2,690. Property taxes in Knobel 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 Knobel'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 Knobel 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
Knobel, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$523
$485
Ownwell’s Knobel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Knobel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Knobel 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 Knobel, Arkansas
Property taxes in Knobel, Arkansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Knobel is 0.61%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Knobel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Knobel 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 Knobel's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72435 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Knobel provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Knobel Tax Rate
0.61%
Average Greene County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knobel, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72435 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Knobel, Arkansas
In Knobel, 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 Greene 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 Knobel, 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 Knobel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Knobel, both at $524, are found in the 72435 zip code.
Average Knobel Assessed Value
$85,750
Average Greene County Assessed Value
$101,950
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knobel, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72435 | $85,750 | $85,750 | $85,750 | $85,750 | $85,750 |
Source: Ownwell
Property Tax Bills Across Knobel, Arkansas
In Knobel, located in Greene County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Knobel face a median home price of $85,750. The property tax rate is applied to the assessed value to determine the annual tax bill. For example, the tax bill at the 25th, 75th, and 90th percentiles is consistently $524, highlighting a uniformity in tax assessments within the region. Several factors influence the tax bill, including property size, location, and any applicable exemptions. These taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Knobel's tax rate provides a relatively affordable option for homeowners, ensuring they receive essential services without a disproportionate financial burden. This balance helps maintain community satisfaction and supports property value stability.
Average Knobel Tax Bill
$524
Average Greene County Tax Bill
$820
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Knobel, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72435 | $524 | $524 | $524 | $524 | $524 |
Source: Ownwell