Huntsville, Arkansas Property Taxes
The median property tax rate in Huntsville, AR is 0.90%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $46,550 in Huntsville, the typical annual property tax bill is $432, significantly below the national median of $2,690. Property taxes in Huntsville are based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Huntsville'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 Huntsville 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
Huntsville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$419
Ownwell’s Huntsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huntsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntsville 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 Huntsville, Arkansas
Property taxes in Huntsville, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntsville is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Huntsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntsville 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 Huntsville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72740 has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Huntsville 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 Huntsville Tax Rate
0.90%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntsville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72740 | 0.66% | 0.71% | 0.90% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Huntsville, Arkansas
In Huntsville, 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. In Huntsville, 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. With a median home price of $46,550, Huntsville residents can expect tax bills ranging from $390 at the 25th percentile to $1,535 at the 90th percentile. The zip code 72740 has the highest and lowest median tax bill, both at $432. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Huntsville Assessed Value
$46,550
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 Huntsville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72740 | $27,400 | $38,450 | $46,550 | $110,300 | $205,550 |
Source: Ownwell
Property Tax Bills Across Huntsville, Arkansas
In Huntsville, 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 Huntsville is $46,550, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, improvements, and any applicable exemptions. For homeowners in Huntsville, the tax burden can vary significantly. The 25th percentile tax bill is around $390, while the 75th percentile reaches up to $1,044. At the higher end, the 90th percentile tax bill can be as much as $1,535. The highest and lowest median tax bills in the area are both $432, indicating some consistency in certain neighborhoods. Compared to the national median property tax rate of 0.99%, Huntsville’s property taxes may seem relatively manageable. However, the impact on homeowners can still be significant, affecting monthly budgets and long-term financial planning. Understanding these factors can help residents better prepare for their annual property tax obligations.
Average Huntsville Tax Bill
$432
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntsville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72740 | $321 | $390 | $432 | $1,044 | $1,535 |
Source: Ownwell