Rockport, Arkansas Property Taxes
The median property tax rate in Rockport, AR is 0.74%, lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Rockport at $64,225, the typical annual property tax bill reaches $450, significantly less than the national median of $2,690. Property taxes in Rockport 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 Rockport'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 Rockport 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
Rockport, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$475
$441
Ownwell’s Rockport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockport 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 Rockport, Arkansas
Property taxes in Rockport, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockport is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Rockport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockport 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 Rockport's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72104 zip code has both the highest and lowest median property tax rate in the region, standing at 0.74%. Understanding how these areas compare with Rockport provides valuable insights into the varying tax landscape across Hot Spring County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rockport Tax Rate
0.74%
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 Rockport, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | 0.27% | 0.49% | 0.74% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Rockport, Arkansas
In Rockport, 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 Hot Spring 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 Rockport, 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 Rockport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72104 has both the highest and lowest median tax bill at $450.
Average Rockport Assessed Value
$64,225
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 Rockport, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | $15,548 | $35,238 | $64,225 | $93,669 | $133,200 |
Source: Ownwell
Property Tax Bills Across Rockport, Arkansas
In Rockport, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Rockport is $64,225. Property taxes are determined by multiplying the assessed value by the local tax rate set by the county authorities. For homeowners in Rockport, the tax bill can vary significantly. The 25th percentile of tax bills is around $249, while the 75th percentile reaches $727, and the 90th percentile can go up to $1,113. These variations depend on factors such as property size, location, and improvements made to the property. Compared to the national median property tax rate of 0.99%, Rockport's property tax rates are relatively moderate, making it an attractive option for homeowners seeking affordability. However, the tax bill still represents a significant expense that can impact a homeowner's budget. Understanding how property tax bills are calculated helps homeowners plan better and potentially seek exemptions or appeals to reduce their tax burden.
Average Rockport Tax Bill
$450
Average Hot Spring County Tax Bill
$477
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockport, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | $94 | $249 | $450 | $727 | $1,113 |
Source: Ownwell