Hope, Lafayette County, Arkansas Property Taxes

Name: Property Tax Bills Across Hope, Lafayette County, Arkansas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Hope, Arkansas effective property tax rate: 0.84%, significantly lower than the national median of 1.02%, but equal to the Arkansas state median of 0.84%.
Median Hope, Arkansas home value: $29,900
Median annual Hope, Arkansas tax bill: $250, $2,150 lower than the national median property tax bill of $2,400.

How are property taxes in Lafayette County calculated?

Property taxes in Hope, Arkansas are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Hope’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hope, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Hope, Lafayette County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.84%

Estimate Property Tax Bill

$251

$233

Ownwell’s Hope Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hope with just two data points. By entering your property's estimated assessed value, our calculator applies Hope’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lafayette County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hope, Lafayette County, Arkansas

Local government entities are responsible for setting tax rates, which can vary significantly even within the same state. This variation occurs because each county, including Lafayette, estimates the budget required to provide essential services annually. They then divide this budget by the total value of all taxable property within their jurisdiction to determine the property tax rate. Although the process involves votes and laws, this is essentially how it functions each year.

For instance, Hope in Lafayette County has its own effective property tax rate, which can be compared to other cities within Arkansas. The median property tax rate in Arkansas is 0.84%, which is lower than the national median property tax rate of 1.02%. Comparing Hope's rate to these figures can provide valuable insights for property owners. Understanding these rates is crucial for homeowners seeking to manage their property tax expenses effectively. By appealing or applying for exemptions, property owners can potentially reduce their tax burden, making it essential to stay informed about local tax trends and opportunities for savings.

Property Tax Rates Across Hope, Lafayette County, Arkansas

Source: Ownwell

0.84%

0.88%

0.93%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Hope Taxx Rate

0.84%

Median Effective Lafayette County Taxx Rate

0.93%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Hope, Lafayette County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
71801	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Hope, Lafayette County, Arkansas

When examining property taxes in Hope, Arkansas, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lafayette County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Lafayette County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Hope.

For example, the median home price in Hope is $29,900, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Hope, Lafayette County, Arkansas

Source: Ownwell

$27,350

$31,663

$35,975

Median Hope Market Value

$29,900

Median Lafayette County Market Value

$29,800

Median Arkansas Market Value

$113,950

Median United States Market Value

$244,900

Property Tax Assessment Values Across Hope, Lafayette County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
71801	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Hope, Lafayette County, Arkansas

In the city of Hope in Lafayette County, AR, property tax bills are calculated based on the assessed value of a home, which is a fraction of its market value. The property tax rate is applied to this assessed value to determine the tax bill. Homeowners in Hope face varying tax bills, with the 25th percentile at $192 and the 75th percentile reaching $425. The 90th percentile can go as high as $897, reflecting differences in property values and tax rates. Compared to the national median property tax bill of $2,400, Hope offers relatively lower tax burdens, but that doesn't mean homeowners can't benefit from savings. Factors like property improvements, neighborhood changes, and local tax policies can influence tax bills. Ownwell helps homeowners in Hope by analyzing these factors and identifying potential savings through property tax appeals and exemptions. By leveraging local expertise and understanding of the tax system, Ownwell ensures homeowners pay only their fair share, potentially reducing their tax burden significantly.

Property Tax Bills Across Hope, Lafayette County, Arkansas

Source: Ownwell

$148

$192

$235

Median Hope Tax Bill

$250

Median Lafayette County Tax Bill

$185

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,690

Property Tax Bills Across Hope, Lafayette County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
71801	N/A	N/A	N/A	N/A	N/A

Source: Ownwell