Saffell, Arkansas Property Taxes
The median property tax rate in Saffell, AR is 0.48%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $69,250 in Saffell, the typical annual property tax bill is $319, far below the national median of $2,690. Property taxes in Saffell are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Saffell'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 Saffell or another part of Independence County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saffell, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Saffell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saffell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saffell 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 Saffell, Arkansas
Property taxes in Saffell, Arkansas, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saffell is 0.48%, which is below both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Saffell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saffell 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 Saffell's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72572 has both the highest and lowest median property tax rate of 0.48%. Understanding how these cities compare with Saffell 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 Saffell Tax Rate
0.48%
Average Independence County Tax Rate
0.72%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saffell, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72572 | 0.11% | 0.19% | 0.48% | 0.65% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Saffell, Arkansas
In Saffell, 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 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 Saffell, 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 Saffell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 72572, with a value of $319, while the lowest median tax bill is also in 72572 at $319.
Average Saffell Assessed Value
$69,250
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 Saffell, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72572 | $44,425 | $56,025 | $69,250 | $149,362 | $177,885 |
Source: Ownwell
Property Tax Bills Across Saffell, Arkansas
In Saffell, located in Independence County, AR, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. In Saffell, the median home price stands at $69,250. Homeowners' tax bills can vary significantly, with the 25th percentile paying around $87 annually, while those in the 75th percentile pay about $904. At the 90th percentile, tax bills can reach up to $1,158. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the highest median tax bill reported in the area is $319, which is relatively low compared to the national median property tax rate of 0.99%. These taxes fund essential services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the overall quality of life in the community.
Average Saffell Tax Bill
$319
Average Independence County Tax Bill
$426
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Saffell, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72572 | $63 | $87 | $319 | $904 | $1,158 |
Source: Ownwell