Hot Springs, Hot Spring County, Arkansas Property Taxes

Name: Property Tax Bills Across Hot Springs, Hot Spring County, Arkansas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median HOT SPRINGS, AR effective property tax rate: 1.00%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median HOT SPRINGS, AR home value: $138,612
Median annual HOT SPRINGS, AR tax bill: $1,390, $1,010 lower than the national median property tax bill of $2,400.

How are property taxes in Hot Spring County calculated?

Property taxes in HOT SPRINGS, AR are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding HOT SPRINGS’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in HOT SPRINGS, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Hot Springs, Hot Spring County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

Estimate Property Tax Bill

$1,386

$1,286

Ownwell’s Hot Springs Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hot Springs with just two data points. By entering your property's estimated assessed value, our calculator applies Hot Springs’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Hot Spring. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hot Springs, Hot Spring County, Arkansas

Local government entities are responsible for setting tax rates, which can vary significantly within Arkansas. Annually, each county, including Hot Spring County, estimates its required budget to provide essential services. This budget is then divided by the total value of all taxable property within the county, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the general process.

In Hot Springs, the effective property tax rate is a reflection of this calculation. Compared to other cities in Arkansas, Hot Springs offers a competitive rate. The median property tax rate in Arkansas closely aligns with the national median, providing residents with a balanced tax environment. With a median property tax rate of 1.00%, Hot Springs is slightly below the national median of 1.02%.

This means that property owners in Hot Springs may benefit from relatively lower property tax bills compared to the national average, offering potential savings and making it an attractive location for homeowners.

Property Tax Rates Across Hot Springs, Hot Spring County, Arkansas

Source: Ownwell

0.43%

0.71%

1.00%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Hot Springs Tax Rate

1.00%

Median Effective Hot Spring County Tax Rate

0.79%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hot Springs, Hot Spring County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
71913	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Hot Springs, Hot Spring County, Arkansas

When examining property taxes in Hot Springs, AR, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Hot Spring County assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Hot Spring County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Hot Springs. For example, the median home price in Hot Springs is $138,612, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Hot Springs, Hot Spring County, Arkansas

Source: Ownwell

$41,600

$104,050

$166,500

Median Hot Springs Market Value

$138,612

Median Hot Spring County Market Value

$64,425

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hot Springs, Hot Spring County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
71913	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Hot Springs, Hot Spring County, Arkansas

In Hot Springs, Arkansas, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value. The median home price in Hot Springs is $138,612, and property owners can expect tax bills around the 25th percentile at $891, rising to the 75th percentile at $1,500, and reaching $1,629 at the 90th percentile. Compared to the national median property tax bill of $2,400, Hot Springs homeowners generally face lower tax burdens. However, these taxes can still be a significant expense for many. Factors such as property improvements, neighborhood changes, and local government budgets can influence tax assessments. Ownwell assists homeowners by analyzing their property tax assessments and identifying potential savings. By appealing inaccurate assessments or securing applicable exemptions, Ownwell can help reduce property tax bills, ensuring homeowners pay only their fair share. This service can provide peace of mind and financial relief for property owners in Hot Springs.

Property Tax Bills Across Hot Springs, Hot Spring County, Arkansas

Source: Ownwell

$247

$753

$1,258

Median Hot Springs Tax Bill

$1,390

Median Hot Spring County Tax Bill

$477

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Hot Springs, Hot Spring County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
71913	N/A	N/A	N/A	N/A	N/A

Source: Ownwell