Ponca, Arkansas Property Taxes
The median property tax rate in Ponca, Arkansas 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 Ponca at $86,175, the typical annual property tax bill amounts to $520, significantly below the national median of $2,690. Property taxes in Ponca are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Ponca'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 Ponca 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
Ponca, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$620
$576
Ownwell’s Ponca Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ponca with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ponca 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 Ponca, Arkansas
Property taxes in Ponca, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ponca is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Ponca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ponca 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 Ponca's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72670 zip code 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 cities compare with Ponca 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 Ponca 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 Ponca, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72670 | 0.57% | 0.64% | 0.72% | 0.81% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Ponca, Arkansas
In Ponca, 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 Ponca, 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 Ponca helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ponca is $86,175, with the highest and lowest median tax bills both recorded at $520 in the 72670 zip code.
Average Ponca Assessed Value
$86,175
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 Ponca, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72670 | $21,475 | $48,588 | $86,175 | $138,000 | $216,875 |
Source: Ownwell
Property Tax Bills Across Ponca, Arkansas
In Ponca, located in Newton County, AR, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Ponca is $86,175. Property taxes are then determined by applying the local tax rate to this assessed value. For homeowners, this means that the amount they pay in property taxes can vary widely depending on their home's value and the specific tax rate applied. Factors such as property location, property type, and any applicable exemptions are considered in determining the tax bill. In Ponca, the tax bill at the 25th percentile is around $385, while at the 75th percentile, it reaches $986. For those at the 90th percentile, the tax bill can go up to $1,403. This variation significantly impacts homeowners, influencing their overall cost of living and financial planning. Comparing these figures to the national median property tax rate of 0.99%, Ponca's tax rates provide a localized perspective on property tax obligations.
Average Ponca Tax Bill
$520
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Ponca, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72670 | $200 | $385 | $520 | $986 | $1,403 |
Source: Ownwell