Mount Judea, Arkansas Property Taxes
The median property tax rate in Mount Judea, AR is 0.63%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Mount Judea, the typical annual property tax bill amounts to $396, significantly below the national median of $2,690. Property taxes in Mount Judea are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Mount Judea'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 Mount Judea 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
Mount Judea, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$403
$374
Ownwell’s MOUNT JUDEA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOUNT JUDEA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOUNT JUDEA 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 Mount Judea, Arkansas
Property taxes in Mount Judea, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Judea is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Mount Judea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Judea 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 Mount Judea's effective property tax rate to other regions in Arkansas and the national median. For comparison, the 72655 zip code has both the highest and lowest median property tax rate of 0.63%, reflecting uniformity in the tax landscape within Newton County. Understanding how these figures compare with Mount Judea 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 Mount Judea Tax Rate
0.63%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Judea, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72655 | 0.45% | 0.53% | 0.63% | 0.78% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Mount Judea, Arkansas
In Mount Judea, 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 Mount Judea, 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. The median home price in Mount Judea is $63,900, with tax bills ranging from $200 at the 25th percentile to $1,115 at the 90th percentile. The zip code 72655 has both the highest and lowest median tax bill at $396. 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 Mount Judea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mount Judea Assessed Value
$63,900
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 Mount Judea, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72655 | $11,840 | $28,250 | $63,900 | $117,925 | $187,750 |
Source: Ownwell
Property Tax Bills Across Mount Judea, Arkansas
In Mount Judea, 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. For instance, with a median home price of $63,900, the tax bill can vary significantly. Homeowners in the 25th percentile might see a tax bill around $200, while those in the 75th percentile could pay approximately $711. The 90th percentile tax bill can reach up to $1,115. The property tax rate in Mount Judea is influenced by several factors, including the local government's budgetary needs and the total assessed value of properties within the county. Compared to the national median property tax rate of 0.99%, the tax bills in Mount Judea are relatively modest. This system ensures that property taxes are proportionate to the value of the property, thereby affecting homeowners differently based on their property's assessed value. This method aims to distribute the tax burden fairly among property owners.
Average Mount Judea Tax Bill
$396
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Judea, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72655 | $91 | $200 | $396 | $711 | $1,115 |
Source: Ownwell