Jasper, Arkansas Property Taxes
The median property tax rate in Jasper, AR is 0.72%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Jasper at $91,100, the typical annual property tax bill reaches $654, significantly below the national median of $2,690. Property taxes in Jasper are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Jasper'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 Jasper 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
Jasper, 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 Jasper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jasper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jasper 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 Jasper, Arkansas
Property taxes in Jasper, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jasper is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Jasper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jasper 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 Jasper's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72641 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these areas compare with Jasper 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 Jasper Tax Rate
0.72%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jasper, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72641 | 0.51% | 0.59% | 0.72% | 0.82% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Jasper, Arkansas
In Jasper, 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. In Jasper, 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 Jasper helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72641 has the highest and lowest median tax bill, both at $654.00, reflecting the uniformity in tax assessments in the area.
Average Jasper Assessed Value
$91,100
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 Jasper, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72641 | $19,340 | $46,500 | $91,100 | $155,650 | $240,270 |
Source: Ownwell
Property Tax Bills Across Jasper, Arkansas
In Jasper, located in Newton County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Jasper is $91,100, and the property tax rate is applied to the assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Jasper can expect a wide range of tax bills. For example, the 25th percentile tax bill stands at $339, while the 75th percentile reaches $1,084, and the 90th percentile goes up to $1,594. These figures show a significant variation, reflecting differences in property values and specific assessments. Compared to the national median property tax rate of 0.99%, Jasper's property taxes can be relatively moderate, providing some financial relief to homeowners. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances effectively.
Average Jasper Tax Bill
$654
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Jasper, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72641 | $156 | $339 | $654 | $1,084 | $1,594 |
Source: Ownwell