Mansfield, Arkansas Property Taxes
The median property tax rate in Mansfield, AR is 0.79%, 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 $187,150 in Mansfield, the typical annual property tax bill amounts to $1,470, falling below the national median of $2,690. Property taxes in Mansfield are determined based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. By understanding Mansfield's property tax system, exploring available exemptions, and identifying potential reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Mansfield or another part of the city, gaining insight into the local property tax system will be beneficial.
Last Updated June 14, 2024
Mansfield, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,478
$1,372
Ownwell’s Mansfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mansfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mansfield 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 Mansfield, Arkansas
Property taxes in Mansfield, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mansfield is 0.79%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Mansfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mansfield 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 Mansfield's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72944 in Logan County has the highest median property tax rate of 0.79%, while the same zip code also features the lowest median tax rate of 0.79%. Understanding how these cities compare with Mansfield provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mansfield Tax Rate
0.79%
Average Logan County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mansfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72944 | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Mansfield, Arkansas
In Mansfield, 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 Logan 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 Mansfield, 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 Mansfield is $187,150, and the median property tax bill is $1,470. 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 Mansfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mansfield Assessed Value
$187,150
Average Logan County Assessed Value
$67,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mansfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72944 | $187,150 | $187,150 | $187,150 | $187,150 | $187,150 |
Source: Ownwell
Property Tax Bills Across Mansfield, Arkansas
In Mansfield, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For example, the median home price in Mansfield is $187,150. With the national median property tax rate at 0.99%, homeowners in Mansfield can expect to pay property taxes close to this rate, although local variations can occur. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Mansfield, the property tax bill tends to be consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $1,470. This consistency indicates a relatively stable tax environment for homeowners in the area. Understanding how property taxes are calculated helps homeowners plan their finances better and anticipate annual expenses. In Mansfield, the standardized tax bills provide a predictable financial outlook, making it easier for residents to manage their budgets effectively.
Average Mansfield Tax Bill
$1,470
Average Logan County Tax Bill
$602
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mansfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72944 | $1,470 | $1,470 | $1,470 | $1,470 | $1,470 |
Source: Ownwell