Hasty, Arkansas Property Taxes
The median property tax rate in Hasty, Arkansas is 0.66%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Hasty at $64,425, the typical annual property tax bill reaches $441, significantly below the national median of $2,690. Property taxes in Hasty 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 Hasty'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 Hasty 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
Hasty, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$425
Ownwell’s Hasty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hasty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hasty 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 Hasty, Arkansas
Property taxes in Hasty, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hasty is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Hasty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hasty 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 Hasty's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72640 zip code has both the highest and lowest median property tax rate of 0.66%, showing uniformity in the tax landscape. Understanding how these cities compare with Hasty 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 Hasty Tax Rate
0.66%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hasty, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72640 | 0.45% | 0.57% | 0.66% | 0.79% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Hasty, Arkansas
In Hasty, 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 Assessor 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 Hasty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 72640, with a median tax bill of $441.
Average Hasty Assessed Value
$64,425
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 Hasty, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72640 | $14,800 | $30,588 | $64,425 | $112,012 | $167,800 |
Source: Ownwell
Property Tax Bills Across Hasty, Arkansas
In Hasty, Newton County, AR, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate is then applied to the assessed value to determine the annual tax bill. For homeowners in Hasty, the median home price is $64,425. Property tax bills can vary significantly, with the 25th percentile tax bill at $219 and the 75th percentile tax bill reaching $722. At the 90th percentile, homeowners might see tax bills as high as $1,031. The property tax rate in Hasty is influenced by local government budgets and the need to fund public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, the property tax rates in Hasty can be considered relatively moderate. This system ensures that homeowners contribute to the community based on the value of their property, impacting their annual financial planning and overall cost of homeownership.
Average Hasty Tax Bill
$441
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hasty, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72640 | $130 | $219 | $441 | $722 | $1,031 |
Source: Ownwell