Nashville, Arkansas Property Taxes
The median property tax rate in Nashville, Arkansas is 0.77%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $71,750 in Nashville, the typical annual property tax bill amounts to $585, significantly less than the national median of $2,690. Property taxes in Nashville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Nashville'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 Nashville or another part of Howard County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nashville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$552
$513
Ownwell’s Nashville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nashville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nashville 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 Nashville, Arkansas
Property taxes in Nashville, Arkansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nashville is 0.77%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Nashville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nashville 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 Nashville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71852 has both the highest and lowest median property tax rate of 0.77%. Understanding how these cities compare with Nashville provides valuable insights into the varying tax landscape across Howard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nashville Tax Rate
0.77%
Average Howard County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nashville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71852 | 0.67% | 0.77% | 0.77% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Nashville, Arkansas
In Nashville, 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 Howard 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 Nashville, 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 Nashville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Nashville is $71,750, with annual property tax bills ranging from $302 at the 25th percentile to $1,582 at the 90th percentile. The zip code 71852 has both the highest and lowest median tax bill at $585.
Average Nashville Assessed Value
$71,750
Average Howard County Assessed Value
$58,900
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nashville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71852 | $8,835 | $34,750 | $71,750 | $126,462 | $200,310 |
Source: Ownwell
Property Tax Bills Across Nashville, Arkansas
In Nashville, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Nashville is $71,750. Property taxes are then determined by applying the local tax rate to this assessed value. For example, in Howard County, the tax rate is applied uniformly, resulting in a median tax bill of $585.00, which is relatively low compared to the national median property tax rate of 0.99%. Other factors influencing the tax bill include any applicable exemptions or deductions, which can reduce the taxable value of your property. For homeowners, this means that even slight changes in property assessments or tax rates can significantly impact their annual tax bills. The 25th percentile tax bill is $302, while the 75th percentile tax bill is $991, and at the 90th percentile, it reaches $1,582. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Nashville Tax Bill
$585
Average Howard County Tax Bill
$510
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Nashville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71852 | $147 | $302 | $585 | $991 | $1,582 |
Source: Ownwell