Bass, Arkansas Property Taxes
The median property tax rate in Bass, AR is 0.74%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Bass at $43,525, the typical annual property tax bill is $290, significantly below the national median of $2,690. Property taxes in Bass 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 Bass'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 Bass 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
Bass, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s BASS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BASS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BASS 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 Bass, Arkansas
Property taxes in Bass, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bass is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Bass set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bass 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 Bass's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72655 has both the highest and lowest median property tax rate at 0.74%. Understanding how these areas compare with Bass provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bass Tax Rate
0.74%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bass, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72655 | 0.65% | 0.70% | 0.74% | 0.78% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Bass, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in BASS, Arkansas. 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 Newton 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 BASS, 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 BASS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in BASS is $43,525, with the highest and lowest median tax bills both recorded at $290 in the 72655 zip code. By understanding these details, homeowners can make informed decisions about their property taxes.
Average Bass Assessed Value
$43,525
Average Newton County Assessed Value
$77,850
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bass, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72655 | $22,570 | $27,475 | $43,525 | $61,775 | $70,640 |
Source: Ownwell
Property Tax Bills Across Bass, Arkansas
In the city of Bass, located in Newton County, AR, property tax bills are calculated based on a combination of the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the home's market value. In Bass, the median home price is $43,525. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For instance, the 25th percentile tax bill in Bass is $212, while the 75th percentile tax bill is $404. Homeowners in the 90th percentile can expect to pay around $498 annually. These figures indicate that property taxes in Bass are relatively low compared to the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood developments, and changes in market conditions can affect the assessed value, thereby influencing the tax bill. For homeowners, understanding these factors is crucial as they directly impact annual expenses and long-term financial planning.
Average Bass Tax Bill
$290
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bass, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72655 | $182 | $212 | $290 | $404 | $498 |
Source: Ownwell