Mountain Home, Marion County, Arkansas Property Taxes
The median property tax rate in Mountain Home, AR is 0.82%, slightly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Mountain Home at $112,375, the typical annual property tax bill amounts to $803, significantly below the national median of $2,690. Property taxes in Mountain Home are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mountain Home's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mountain Home or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mountain Home, Marion County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$921
$855
Ownwell’s Mountain Home Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mountain Home with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mountain Home 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 Mountain Home, Marion County, Arkansas
Property taxes in Mountain Home, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mountain Home is 0.82%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Mountain Home set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mountain Home 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 Mountain Home's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72653 zip code has the highest median property tax rate of 0.82%, while the 72653 zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Mountain Home provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mountain Home Tax Rate
0.82%
Average Marion County Tax Rate
0.86%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mountain Home, Marion County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72653 | 0.54% | 0.70% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Mountain Home, Marion County, Arkansas
In Mountain Home, 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 county 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 Mountain Home, 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 Mountain Home helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $807, found in the 72653 zip code.
Property Tax Assessment Values Across Mountain Home, Marion County, Arkansas
Source: Ownwell
$43,525
$118,475
$193,425
Average Mountain Home Assessed Value
$112,375
Average Marion County Assessed Value
$88,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mountain Home, Marion County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72653 | $14,260 | $29,950 | $113,000 | $204,050 | $308,700 |
Source: Ownwell
Property Tax Bills Across Mountain Home, Marion County, Arkansas
In Mountain Home, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Typically, the assessed value is determined by local tax authorities and is influenced by factors such as the property's location, size, and condition. The median home price in Mountain Home is $112,375, and tax rates are applied to this assessed value to determine the annual tax bill. Homeowners in Mountain Home can expect varying tax bills depending on their property's assessed value. For instance, the tax bill for the 25th percentile is around $237, while it can rise to $1,468 for the 75th percentile and reach up to $2,131 for the 90th percentile. The highest median tax bill in the area is $807, which is significantly lower than the national median property tax rate of 0.99%. These tax bills directly impact homeowners' annual expenses, making it essential to understand how property assessments and tax rates influence their financial obligations.
Average Mountain Home Tax Bill
$803
Average Marion County Tax Bill
$708
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mountain Home, Marion County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72653 | $127 | $238 | $807 | $1,474 | $2,135 |
Source: Ownwell