Compton, Arkansas Property Taxes
The median property tax rate in Compton, AR is 0.78%, lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value in Compton of $84,800, the typical annual property tax bill is $649, which is significantly below the national median of $2,690. Property taxes in Compton are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Compton'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 Compton 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
Compton, 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 Compton Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Compton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Compton 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 Compton, Arkansas
Property taxes in Compton, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Compton is 0.78%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Compton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Compton 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 Compton's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72624 zip code has the highest median property tax rate of 0.78%, while the 72624 zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Compton 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 Compton Tax Rate
0.78%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Compton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72624 | 0.58% | 0.68% | 0.78% | 0.92% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Compton, Arkansas
In Compton, 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 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. Assessment notices in Compton 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. For instance, the median home price in Compton is $84,800, with tax bills ranging from the 25th percentile at $348 to the 90th percentile at $1,605. The highest and lowest median tax bill in Compton is $649, found in zip code 72624. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Compton Assessed Value
$84,800
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 Compton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72624 | $23,750 | $50,025 | $84,800 | $148,562 | $201,530 |
Source: Ownwell
Property Tax Bills Across Compton, Arkansas
In Compton, Newton County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Compton stands at $84,800. Property taxes are then determined by applying the local tax rate to this assessed value. For example, homeowners in the 25th percentile of tax bills pay around $348, while those in the 75th percentile face bills of approximately $1,090. At the 90th percentile, tax bills can reach up to $1,605. Several factors influence these tax bills, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. The highest and lowest median tax bills in the area are both $649, indicating a relatively stable tax environment. Compared to the national median property tax rate of 0.99%, Compton's rates can vary significantly, impacting homeowners differently based on their property's assessed value and location within the city. This variability underscores the importance of understanding local property tax dynamics.
Average Compton Tax Bill
$649
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Compton, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72624 | $187 | $348 | $649 | $1,090 | $1,605 |
Source: Ownwell