Horseshoe Bend, Arkansas Property Taxes
The median property tax rate in Horseshoe Bend, AR is 0.76%, 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 $59,100 in Horseshoe Bend, the typical annual property tax bill amounts to $372, significantly less than the national median of $2,690. Property taxes in Horseshoe Bend are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Horseshoe Bend'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 Horseshoe Bend or another part of Izard County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Horseshoe Bend, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$449
$417
Ownwell’s Horseshoe Bend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Horseshoe Bend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Horseshoe Bend 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 Horseshoe Bend, Arkansas
Property taxes in Horseshoe Bend, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Horseshoe Bend is 0.76%, lower than the U.S. national median of 0.99%. Local government entities within Horseshoe Bend set these rates annually, and they can vary significantly across different neighborhoods. Each year, Horseshoe Bend 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 Horseshoe Bend's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72512 has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these areas compare with Horseshoe Bend provides valuable insights into the varying tax landscape across Izard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Horseshoe Bend Tax Rate
0.76%
Average Izard County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Horseshoe Bend, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72512 | 0.14% | 0.30% | 0.76% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Horseshoe Bend, Arkansas
In Horseshoe Bend, 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 Izard County Assessor 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 Horseshoe Bend, 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 median home price in the area is $59,100, with the 25th percentile tax bill at $117 and the 75th percentile tax bill at $726. The highest median tax bill is $372 in zip code 72512, which is also the lowest median tax bill, indicating a uniform tax burden. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Horseshoe Bend Assessed Value
$59,100
Average Izard County Assessed Value
$60,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Horseshoe Bend, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72512 | $9,540 | $35,050 | $59,100 | $95,300 | $199,530 |
Source: Ownwell
Property Tax Bills Across Horseshoe Bend, Arkansas
In Horseshoe Bend, located in Izard County, Arkansas, property tax bills are calculated based on the assessed value of a property, which is typically a fraction of its market value. Arkansas uses an assessed value rate of 20% of the market value to determine property taxes. For example, with a median home price of $59,100, the assessed value would be $11,820. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the tax bill, including the property's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Horseshoe Bend can expect a range of property tax bills, with the 25th percentile at $117 and the 75th percentile at $726. The 90th percentile reaches up to $1,558, highlighting the variability in tax burdens based on property values and specific circumstances. Compared to the national median property tax rate of 0.99%, homeowners in Horseshoe Bend generally experience lower property tax rates, providing some financial relief in this region.
Average Horseshoe Bend Tax Bill
$372
Average Izard County Tax Bill
$375
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Horseshoe Bend, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72512 | $51 | $117 | $372 | $726 | $1,558 |
Source: Ownwell