Coal Hill, Arkansas Property Taxes
The median property tax rate in Coal Hill, Arkansas is 0.88%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $47,700 in Coal Hill, the typical annual property tax bill is $319, which is significantly below the national median of $2,690. Property taxes in Coal Hill are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Coal Hill'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 Coal Hill or another part of Johnson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coal Hill, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$420
Ownwell’s COAL HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in COAL HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in COAL HILL 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 Coal Hill, Arkansas
Property taxes in Coal Hill, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coal Hill is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Coal Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coal Hill 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 Coal Hill's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72832 has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Coal Hill provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coal Hill Tax Rate
0.88%
Average Johnson County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coal Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72832 | 0.21% | 0.48% | 0.88% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Coal Hill, Arkansas
In Coal Hill, 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 Johnson 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 Coal Hill, 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. The median home price in Coal Hill is $47,700, with tax bills ranging from $179 at the 25th percentile to $851 at the 90th percentile. The highest median tax bill of $319 is found in the 72832 zip code, which also has the lowest median tax bill. 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 Coal Hill Assessed Value
$47,700
Average Johnson County Assessed Value
$80,100
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coal Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72832 | $17,110 | $30,750 | $47,700 | $73,925 | $104,035 |
Source: Ownwell
Property Tax Bills Across Coal Hill, Arkansas
In Coal Hill, AR, located in Johnson County, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Coal Hill is $47,700. Property taxes are then derived by applying the local tax rate to this assessed value. For instance, at the 25th percentile, homeowners can expect a tax bill around $179, while those at the 75th percentile might see a bill closer to $547. At the 90th percentile, tax bills can reach up to $851. Several factors influence the property tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Coal Hill's rates are relatively modest. This lower tax burden can be beneficial for homeowners, making property ownership more affordable. However, it’s essential for homeowners to stay informed about their property's assessed value and any potential changes in local tax rates to manage their financial planning effectively.
Average Coal Hill Tax Bill
$319
Average Johnson County Tax Bill
$542
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Coal Hill, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72832 | $72 | $179 | $319 | $547 | $851 |
Source: Ownwell