Hartman, Johnson County, Arkansas Property Taxes
The median property tax rate in Hartman, AR is 0.65%, 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 $58,450 in Hartman, the typical annual property tax bill amounts to $331, significantly below the national median of $2,690. Property taxes in Hartman 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 Hartman'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 Hartman or another part of Johnson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hartman, Johnson County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$380
$353
Ownwell’s Hartman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hartman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hartman 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 Hartman, Johnson County, Arkansas
Property taxes in Hartman, Arkansas, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Hartman stands at 0.65%, below both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Hartman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hartman 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 Hartman's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72840 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Hartman 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 Hartman Tax Rate
0.65%
Average Johnson County Tax Rate
0.75%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hartman, Johnson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72840 | 0.14% | 0.31% | 0.65% | 0.98% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Hartman, Johnson County, Arkansas
In Hartman, 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 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 Hartman, 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 Hartman 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 in Hartman is 72840, with a median tax bill of $331.00.
Property Tax Assessment Values Across Hartman, Johnson County, Arkansas
Source: Ownwell
$45,700
$67,875
$90,050
Average Hartman Assessed Value
$58,450
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 Hartman, Johnson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72840 | $15,930 | $32,300 | $58,450 | $98,800 | $154,280 |
Source: Ownwell
Property Tax Bills Across Hartman, Johnson County, Arkansas
In Hartman, Johnson County, AR, property tax bills are calculated based on the assessed value of a property, which is a fraction of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $58,450, the assessed value is a percentage of this market price, and then the local tax rate is applied. Factors such as property location, improvements, and exemptions can influence the assessed value. Homeowners in Hartman typically see a range in their tax bills, with the 25th percentile at $125 and the 75th percentile reaching up to $640. The 90th percentile tax bill can go as high as $1,131. Comparatively, the highest and lowest median tax bills in the area are both $331, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can be beneficial for homeowners, making Hartman an attractive location for property investment.
Average Hartman Tax Bill
$331
Average Johnson County Tax Bill
$542
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hartman, Johnson County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72840 | $40 | $125 | $331 | $640 | $1,131 |
Source: Ownwell