Emmet, Arkansas Property Taxes
The median property tax rate in Emmet, AR is 0.77%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Emmet, the typical annual property tax bill reaches $236, significantly below the national median of $2,690. Property taxes in Emmet are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Emmet'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 Emmet 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
Emmet, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$288
Ownwell’s EMMET Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EMMET with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EMMET 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 Emmet, Arkansas
Property taxes in Emmet, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emmet is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Emmet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emmet 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 Emmet's effective property tax rate to other areas in Hempstead County and the national median. For comparison, the zip code 71835 has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with Emmet 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 Emmet Tax Rate
0.77%
Average Hempstead County Tax Rate
0.77%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emmet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71835 | 0.13% | 0.39% | 0.77% | 0.77% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Emmet, Arkansas
In Emmet, 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 Emmet, 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 Emmet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Emmet is $236 in the 71835 zip code, while the lowest median tax bill is also $236 in the same zip code.
Average Emmet Assessed Value
$37,400
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 Emmet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71835 | $5,850 | $13,438 | $37,400 | $99,075 | $152,185 |
Source: Ownwell
Property Tax Bills Across Emmet, Arkansas
In EMMET, located in Hempstead 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 this area is $37,400. To determine the tax bill, local tax rates are applied to the assessed value. Factors such as property location, improvements, and exemptions can influence the final amount. For instance, the 25th percentile tax bill in EMMET is $67, while the 75th percentile reaches $522, and the 90th percentile peaks at $938. These figures highlight the range of property tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, EMMET's property tax rates are relatively modest. This variability can significantly impact homeowners, potentially making homeownership more affordable for some, while others might experience higher financial responsibilities. The highest and lowest median tax bills in the area both stand at $236, indicating a level of consistency in certain parts of the city.
Average Emmet Tax Bill
$236
Average Hempstead County Tax Bill
$306
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Emmet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71835 | $24 | $67 | $236 | $522 | $938 |
Source: Ownwell