Western Grove, Arkansas Property Taxes
The median property tax rate in Western Grove, AR is 0.73%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $89,200 in Western Grove, the typical annual property tax bill is around $650, significantly less than the national median of $2,690. Property taxes in Western Grove are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Western Grove'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 Western Grove 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
Western Grove, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$651
Ownwell’s Western Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Western Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Western Grove 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 Western Grove, Arkansas
Property taxes in Western Grove, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Western Grove is 0.73%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Western Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Western Grove 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 Western Grove's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72685 has both the highest and lowest median property tax rate in Newton County, at 0.73%. Understanding how these rates compare with Western Grove 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 Western Grove Tax Rate
0.73%
Average Newton County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Western Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72685 | 0.55% | 0.64% | 0.73% | 0.89% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Western Grove, Arkansas
In Western Grove, 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 Western Grove, 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 Western Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Western Grove is $89,200, and the median tax bill is notably consistent across zip codes, with the highest being $650 in the 72685 zip code.
Average Western Grove Assessed Value
$89,200
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 Western Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72685 | $20,520 | $47,400 | $89,200 | $136,550 | $192,140 |
Source: Ownwell
Property Tax Bills Across Western Grove, Arkansas
In Western Grove, located in Newton County, AR, property tax bills are calculated based on the assessed value of a property. This assessed value is typically a percentage of the property's market value. Homeowners in Western Grove can expect varying tax bills, influenced by the assessed value of their property and the local tax rate. The median home price in the area is $89,200, and property tax bills range significantly. For instance, the 25th percentile tax bill is $348, while the 75th percentile reaches $968, and at the 90th percentile, it can be as high as $1,363. The highest and lowest median tax bill within the zip code 72685 both stand at $650. Compared to the national median property tax rate of 0.99%, Western Grove offers relatively affordable property taxes. These variations in tax bills can impact homeowners' annual expenses, making it essential for them to understand how their property is assessed and taxed.
Average Western Grove Tax Bill
$650
Average Newton County Tax Bill
$525
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Western Grove, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72685 | $149 | $348 | $650 | $968 | $1,363 |
Source: Ownwell