Hagarville, Arkansas Property Taxes
The median property tax rate in Hagarville, AR is 0.69%, 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 $126,950 in Hagarville, the typical annual property tax bill amounts to $870, significantly less than the national median of $2,690. Property taxes in Hagarville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hagarville'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 Hagarville or another part of Newton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hagarville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$876
Ownwell’s Hagarville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hagarville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hagarville 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 Hagarville, Arkansas
Property taxes in Hagarville, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hagarville stands at 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Hagarville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hagarville 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 Hagarville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72839 has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Hagarville 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 Hagarville Tax Rate
0.69%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hagarville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72839 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Hagarville, Arkansas
In Hagarville, 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 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 Hagarville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Hagarville, the highest and lowest median tax bills are both $870, found in the zip code 72839.
Average Hagarville Assessed Value
$126,950
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 Hagarville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72839 | $126,950 | $126,950 | $126,950 | $126,950 | $126,950 |
Source: Ownwell
Property Tax Bills Across Hagarville, Arkansas
In Hagarville, Newton County, AR, property tax bills are calculated based on the assessed value of your home, which is a percentage of the market value. The assessed value is then multiplied by the local property tax rate to determine your annual tax bill. For instance, with a median home price of $126,950, homeowners can expect a median tax bill of $870. This amount is consistent across various percentiles, indicating a uniform property tax rate in the area. Factors influencing the tax bill include the market value of the property, any applicable exemptions, and the local tax rate. These elements collectively determine the financial responsibility of homeowners. The tax burden in Hagarville is relatively moderate compared to the national median property tax rate of 0.99%. Understanding how these factors interplay helps homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Hagarville Tax Bill
$870
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hagarville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72839 | $870 | $870 | $870 | $870 | $870 |
Source: Ownwell