Ravenden, Arkansas Property Taxes
The median property tax rate in Ravenden, AR is 0.72%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $52,975 in Ravenden, the typical annual property tax bill amounts to $392, significantly below the national median of $2,690. Property taxes in Ravenden are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ravenden'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 Ravenden or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ravenden, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$381
$354
Ownwell’s Ravenden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravenden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravenden 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 Ravenden, Arkansas
Property taxes in Ravenden, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ravenden is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Ravenden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravenden 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 Ravenden's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72459 has the highest median property tax rate of 0.72%, while also having the lowest median tax rate of 0.72%. Understanding how these cities compare with Ravenden provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ravenden Tax Rate
0.72%
Average Lawrence County Tax Rate
0.63%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravenden, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72459 | 0.41% | 0.57% | 0.72% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Ravenden, Arkansas
In Ravenden, 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 Lawrence 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 Ravenden, 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 Ravenden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ravenden is $52,975, with the highest median tax bill being $392 in the 72459 zip code.
Average Ravenden Assessed Value
$52,975
Average Lawrence County Assessed Value
$77,245
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ravenden, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72459 | $19,228 | $31,679 | $52,975 | $92,630 | $140,278 |
Source: Ownwell
Property Tax Bills Across Ravenden, Arkansas
In Ravenden, Lawrence County, AR, 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 Ravenden is $52,975, and property taxes are applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For instance, the 25th percentile tax bill is $196, while the 75th percentile tax bill is $654, indicating a range of what homeowners might expect to pay. At the 90th percentile, tax bills can reach up to $1,036. These figures show how property taxes can vary significantly within the area. Compared to the national median property tax rate of 0.99%, homeowners in Ravenden might find their tax bills relatively manageable, but the exact amount can still impact household budgets. Understanding these factors helps homeowners anticipate their property tax obligations and plan accordingly.
Average Ravenden Tax Bill
$392
Average Lawrence County Tax Bill
$469
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravenden, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72459 | $119 | $196 | $392 | $654 | $1,036 |
Source: Ownwell