Hagarville, Arkansas Property Taxes
The median property tax rate in Hagarville, AR is 0.95%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Hagarville at $60,650, the typical annual property tax bill is $397, significantly lower than the national median of $2,690. Property taxes in Hagarville are calculated based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hagarville'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 Hagarville 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
Hagarville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$576
Ownwell’s Hagarville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hagarville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hagarville 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 Hagarville, Arkansas
Property taxes in Hagarville, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hagarville is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Hagarville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hagarville 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 Hagarville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72839 zip code has the highest median property tax rate of 0.95%, while the same 72839 zip code also has the lowest median tax rate of 0.95%. Understanding how these areas compare with Hagarville 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 Hagarville Tax Rate
0.95%
Average Johnson County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hagarville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72839 | 0.29% | 0.56% | 0.95% | 1.01% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Hagarville, Arkansas
In Hagarville, 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 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. 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 Hagarville 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 72839, with a median tax bill of $397, while the lowest median tax bill is also $397 in the same zip code.
Average Hagarville Assessed Value
$60,650
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 Hagarville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72839 | $17,860 | $29,500 | $60,650 | $109,200 | $158,760 |
Source: Ownwell
Property Tax Bills Across Hagarville, Arkansas
In Hagarville, located in Johnson County, AR, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Hagarville is $60,650. Property taxes are determined by multiplying the assessed value by the local tax rate. Factors such as property location, improvements, and exemptions can influence the final tax bill. For instance, tax bills in Hagarville range from $216 at the 25th percentile to $1,333 at the 90th percentile. The highest median tax bill in the area is $397, found in the 72839 zip code. Compared to the national median property tax rate of 0.99%, Hagarville's property tax rates are relatively moderate. This affects homeowners by providing a more affordable living situation, though it also means local services funded by these taxes may have different resource levels. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan accordingly.
Average Hagarville Tax Bill
$397
Average Johnson County Tax Bill
$542
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hagarville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72839 | $86 | $216 | $397 | $851 | $1,333 |
Source: Ownwell