Reader, Arkansas Property Taxes
The median property tax rate in READER, AR is 0.85%, slightly higher than the Arkansas state median of 0.84% but lower than the national median of 0.99%. With the median home value in READER, the typical annual property tax bill is $63, which is significantly less than the national median of $2,690. Property taxes in READER are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding READER'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 READER 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
Reader, 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 READER Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in READER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in READER 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 Reader, Arkansas
Property taxes in READER, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in READER is 0.85%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within READER set these rates annually, and they can vary significantly across different neighborhoods. Each year, READER 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 READER's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71726 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these areas compare with READER provides valuable insights into the varying tax landscape across Ouachita County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reader Tax Rate
0.85%
Average Ouachita County Tax Rate
0.85%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reader, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71726 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Reader, Arkansas
In READER, 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 Ouachita 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 READER, 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. For instance, the median home price in READER is $8,150, with tax bills ranging from $46 at the 25th percentile to $108 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Reader Assessed Value
$8,150
Average Ouachita County Assessed Value
$39,000
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reader, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71726 | $3,780 | $6,600 | $8,150 | $14,650 | $20,260 |
Source: Ownwell
Property Tax Bills Across Reader, Arkansas
In READER, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. For homeowners in Ouachita County, this means that the local tax rate is applied to the assessed value to determine the annual tax bill. Various factors influence this assessed value, including property size, location, and condition. For instance, with a median home price of $8,150, homeowners can expect tax bills to vary widely. The 25th percentile tax bill is around $46, while those in the 75th percentile pay approximately $83. At the 90th percentile, the tax bill can be as high as $108. These figures highlight how property taxes can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, READER's property taxes can be relatively manageable, providing some relief to homeowners. Understanding these factors can help residents better anticipate their annual property tax obligations and plan accordingly.
Average Reader Tax Bill
$63
Average Ouachita County Tax Bill
$254
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Reader, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71726 | $28 | $46 | $63 | $83 | $108 |
Source: Ownwell