Batesville, Arkansas Property Taxes
The median property tax rate in Batesville, AR is 0.74%, 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 Batesville at $71,300, the typical annual property tax bill amounts to $478, significantly below the national median of $2,690. Property taxes in Batesville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Batesville'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 Batesville or another part of Independence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Batesville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$528
$490
Ownwell’s Batesville Property Tax Bill Calculator helps homeowners, real estate investors, and potential owners estimate their annual property taxes in Batesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Batesville 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 Batesville, Arkansas
Property taxes in Batesville, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Batesville is 0.74%, which is lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Batesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Batesville 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 Batesville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72501 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Batesville provides valuable insights into the varying tax landscape across Independence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Batesville Tax Rate
0.74%
Average Independence County Tax Rate
0.72%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Batesville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72501 | 0.18% | 0.41% | 0.74% | 0.95% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Batesville, Arkansas
In Batesville, 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 Independence County Assessor's Office 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 Batesville, 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 Batesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Batesville is $478, with the highest and lowest median tax bills also being $478 in the 72501 zip code.
Average Batesville Assessed Value
$71,300
Average Independence County Assessed Value
$66,400
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Batesville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72501 | $22,810 | $41,100 | $71,300 | $126,050 | $193,020 |
Source: Ownwell
Property Tax Bills Across Batesville, Arkansas
In Batesville, located in Independence County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the home's market value, and this assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $71,300, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $194, while those at the 75th percentile could see tax bills of approximately $953. In some cases, tax bills can reach up to $1,593 at the 90th percentile. The median tax bill in the area, notably, is $478, which is relatively low compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Batesville Tax Bill
$478
Average Independence County Tax Bill
$426
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Batesville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72501 | $65 | $194 | $478 | $953 | $1,593 |
Source: Ownwell