Columbus, Arkansas Property Taxes
The median property tax rate in Columbus, Arkansas is 0.81%, slightly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Columbus at $47,950, the typical annual property tax bill amounts to $226, which is significantly below the national median of $2,690. Property taxes in Columbus are calculated based on the tax assessed value, which often falls below the market value due to exemptions, such as those for primary residences and agricultural properties. Understanding Columbus'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 Columbus 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
Columbus, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$388
$360
Ownwell’s Columbus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbus 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 Columbus, Arkansas
Property taxes in Columbus, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbus is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Columbus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbus 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 Columbus's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71831 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Columbus provides valuable insights into the varying tax landscape across Hempstead County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbus Tax Rate
0.81%
Average Hempstead County Tax Rate
0.77%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbus, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71831 | 0.18% | 0.31% | 0.81% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Columbus, Arkansas
In Columbus, 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 Hempstead 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 Columbus, 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. The median home price in Columbus is $47,950, with tax bills ranging from the 25th percentile at $115 to the 90th percentile at $662. The highest and lowest median tax bills both occur in the 71831 zip code, amounting to $226. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Columbus Assessed Value
$47,950
Average Hempstead County Assessed Value
$47,525
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbus, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71831 | $6,720 | $19,450 | $47,950 | $76,250 | $122,820 |
Source: Ownwell
Property Tax Bills Across Columbus, Arkansas
In Columbus, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Columbus is $47,950. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property location within Hempstead County, property size, and any applicable exemptions or deductions can influence the final tax amount. Homeowners in Columbus typically see a range in their tax bills. For instance, the 25th percentile tax bill is around $115, while the 75th percentile tax bill reaches $516. At the higher end, the 90th percentile tax bill can go up to $662. Compared to the national median property tax rate of 0.99%, Columbus offers relatively low property tax bills, which can be a financial relief for homeowners. This lower tax burden makes Columbus an attractive location for those seeking affordable homeownership while still contributing to local services and infrastructure through their property taxes.
Average Columbus Tax Bill
$226
Average Hempstead County Tax Bill
$306
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbus, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71831 | $33 | $115 | $226 | $516 | $662 |
Source: Ownwell