Hot Spring County Property Taxes
The median property tax rate in Hot Spring County is 0.79%, 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 Hot Spring County at $64,425, the typical annual property tax bill is $477, significantly below the national median of $2,690. Property taxes in Hot Spring County are calculated based on the tax assessed value, often lower than the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Hot Spring County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Malvern or another part of Hot Spring County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hot Spring County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$509
$472
Ownwell’s Hot Spring County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hot Spring County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Hot Spring County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Hot Spring County, Arkansas
Property taxes in Hot Spring County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Hot Spring County is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Hot Spring County set these rates annually, and they can vary significantly between different areas within the county. Each year, Hot Spring County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Hot Spring County's effective property tax rate with other areas in Arkansas and the national median. For comparison, the city of Perla has one of the higher property tax rates in Arkansas at 1.04%, while the city of Poyen boasts one of the lowest at 0.43%. Analyzing how Hot Spring County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Hot Spring County Tax Rate
0.79%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hot Spring County, Arkansas
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Amity | 0.16% | 0.55% | 1.00% | 1.00% | 1.00% |
| Arkadelphia | 0.25% | 0.49% | 0.73% | 1.00% | 1.00% |
| Benton | 0.43% | 0.51% | 0.66% | 0.80% | 0.89% |
| Bismarck | 0.22% | 0.51% | 0.75% | 1.00% | 1.00% |
| Bonnerdale | 0.11% | 0.37% | 0.75% | 1.00% | 1.00% |
| Donaldson | 0.14% | 0.38% | 0.69% | 1.00% | 1.00% |
| Friendship | 0.24% | 0.49% | 0.95% | 1.10% | 1.10% |
| Glenwood | 0.21% | 0.49% | 0.77% | 1.00% | 1.00% |
| Hot Springs | 1.00% | 1.00% | 1.00% | 1.00% | 1.07% |
| Hot Springs National Park | 0.35% | 0.55% | 0.75% | 1.00% | 1.00% |
| Leola | 0.16% | 0.43% | 0.73% | 1.00% | 1.00% |
| Malvern | 0.23% | 0.50% | 0.82% | 1.04% | 1.13% |
| Pearcy | 0.21% | 0.48% | 0.79% | 1.00% | 1.00% |
| Perla | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
| Poyen | 0.15% | 0.21% | 0.43% | 0.79% | 1.11% |
| Rockport | 0.27% | 0.49% | 0.74% | 1.10% | 1.10% |
| Traskwood | 0.12% | 0.36% | 0.71% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Hot Spring County, Arkansas
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Hot Spring County, Arkansas. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Hot Spring County Appraisal District. The assessed value, however, 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. Assessment notices in Hot Spring County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Hot Spring County has a wide range of tax bills, from the highest median tax bill of $1,390 in Hot Springs to the lowest at $140 in Benton. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Hot Spring County, Arkansas
Source: Ownwell
$6,662
$86,581
$166,500
Average Hot Spring County Assessed Value
$64,425
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hot Spring County, Arkansas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Amity | $7,155 | $17,825 | $41,600 | $84,962 | $134,800 |
| Arkadelphia | $15,395 | $37,031 | $74,288 | $122,475 | $178,845 |
| Benton | $7,878 | $18,944 | $37,388 | $55,831 | $66,898 |
| Bismarck | $12,845 | $34,375 | $73,625 | $132,175 | $186,570 |
| Bonnerdale | $10,790 | $26,950 | $52,650 | $104,975 | $171,450 |
| Donaldson | $11,640 | $30,800 | $55,525 | $101,425 | $148,205 |
| Friendship | $7,380 | $17,825 | $53,625 | $98,450 | $126,440 |
| Glenwood | $10,015 | $17,925 | $48,275 | $100,200 | $148,960 |
| Hot Springs | $48,038 | $88,862 | $138,612 | $149,888 | $152,488 |
| Hot Springs National Park | $40,145 | $77,975 | $128,500 | $209,050 | $301,750 |
| Leola | $8,550 | $28,600 | $61,875 | $116,375 | $179,035 |
| Malvern | $16,650 | $32,000 | $61,775 | $115,775 | $178,505 |
| Pearcy | $8,025 | $24,856 | $52,725 | $115,138 | $184,325 |
| Perla | $4,878 | $5,519 | $6,662 | $7,494 | $7,572 |
| Poyen | $36,635 | $50,075 | $64,925 | $89,088 | $150,378 |
| Rockport | $15,548 | $35,238 | $64,225 | $93,669 | $133,200 |
| Traskwood | $14,130 | $40,100 | $66,400 | $126,012 | $193,290 |
Source: Ownwell
Property Tax Bills Across Hot Spring County, Arkansas
In Hot Spring County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The median home price in the county is $64,425. Tax rates are applied to this assessed value to determine the final tax bill. Factors influencing the tax bill include property location, home value, and applicable exemptions. Homeowners in Hot Spring County can expect a wide range of tax bills. At the 25th percentile, tax bills are around $211, while at the 75th percentile, they reach approximately $931. For those in the 90th percentile, tax bills can be as high as $1,533. Comparatively, Hot Springs has the highest median tax bill in the county at $1,390, while Benton has the lowest at $140. These tax variations can significantly impact homeowners' annual expenses, making it crucial to understand the factors that influence property tax calculations.
Average Hot Spring County Tax Bill
$477
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hot Spring County, Arkansas
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Amity | $31 | $109 | $247 | $663 | $1,082 |
| Arkadelphia | $87 | $229 | $544 | $888 | $1,427 |
| Benton | $32 | $73 | $140 | $208 | $249 |
| Bismarck | $65 | $209 | $557 | $1,039 | $1,534 |
| Bonnerdale | $46 | $110 | $379 | $839 | $1,372 |
| Donaldson | $44 | $133 | $375 | $715 | $1,126 |
| Friendship | $55 | $99 | $280 | $568 | $845 |
| Glenwood | $65 | $119 | $259 | $768 | $1,406 |
| Hot Springs | $481 | $891 | $1,390 | $1,500 | $1,629 |
| Hot Springs National Park | $211 | $524 | $978 | $1,697 | $2,710 |
| Leola | $47 | $114 | $437 | $814 | $1,176 |
| Malvern | $80 | $221 | $467 | $907 | $1,539 |
| Pearcy | $53 | $135 | $407 | $955 | $1,658 |
| Perla | $49 | $54 | $61 | $69 | $74 |
| Poyen | $79 | $137 | $257 | $705 | $1,163 |
| Rockport | $94 | $249 | $450 | $727 | $1,113 |
| Traskwood | $47 | $146 | $480 | $805 | $1,546 |
Source: Ownwell