Saratoga, Arkansas Property Taxes
The median property tax rate in Saratoga, AR is 0.81%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $42,650 in Saratoga, the typical annual property tax bill is $346, significantly below the national median of $2,690. Property taxes in Saratoga are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Saratoga'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 Saratoga or another part of Howard County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saratoga, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$345
$321
Ownwell’s SARATOGA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SARATOGA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SARATOGA 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 Saratoga, Arkansas
Property taxes in Saratoga, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saratoga is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Saratoga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saratoga 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 Saratoga's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71859 has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Saratoga 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 Saratoga Tax Rate
0.81%
Average Howard County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saratoga, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71859 | 0.62% | 0.80% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Saratoga, Arkansas
In SARATOGA, 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 SARATOGA, 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. For example, the zip code 71859 in SARATOGA has the highest median tax bill at $346. 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 SARATOGA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Saratoga Assessed Value
$42,650
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 Saratoga, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71859 | $6,400 | $24,538 | $42,650 | $74,325 | $104,175 |
Source: Ownwell
Property Tax Bills Across Saratoga, Arkansas
In Saratoga, property tax bills are calculated based on the assessed value of your home, which is determined by the Howard County Assessor's Office. The median home price in Saratoga is $42,650. Property taxes are derived by applying the local tax rate to the assessed value. For example, if your home is assessed at the median price, your tax bill could range from $207 at the 25th percentile to $860 at the 90th percentile. The highest median tax bill in the area is $346, found in the 71859 zip code. Several factors influence the final tax bill, including property size, improvements, and market conditions. These taxes fund essential community services such as schools, public safety, and infrastructure. Homeowners in Saratoga pay a lower median property tax rate compared to the national median of 0.99%, making it a relatively affordable area in terms of property taxes. Understanding how these factors come together can help homeowners better anticipate their annual property tax obligations.
Average Saratoga Tax Bill
$346
Average Howard County Tax Bill
$510
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Saratoga, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71859 | $160 | $207 | $346 | $594 | $860 |
Source: Ownwell