Amity, Arkansas Property Taxes
The median property tax rate in Amity, AR is 0.78%, 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 Amity at $65,450, the typical annual property tax bill is $507, significantly below the national median of $2,690. Property taxes in Amity are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Amity'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 Amity or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amity, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$511
Ownwell's Amity Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Amity with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Amity to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is determined by Pike County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Amity, Arkansas
Property taxes in Amity, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amity is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Amity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amity 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 Amity's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 71921 has both the highest and lowest median property tax rate of 0.78%. Understanding how these areas compare with Amity provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amity Tax Rate
0.78%
Average Pike County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amity, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71921 | 0.56% | 0.66% | 0.78% | 0.88% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Amity, Arkansas
In Amity, 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 Pike 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 Amity, 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 Amity is $65,450, with tax bills ranging from $260 at the 25th percentile to $1,482 at the 90th percentile. The highest and lowest median tax bills, both at $507, are found in the 71921 zip code. 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 Amity helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amity Assessed Value
$65,450
Average Pike County Assessed Value
$63,750
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amity, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71921 | $12,560 | $29,700 | $65,450 | $134,450 | $208,130 |
Source: Ownwell
Property Tax Bills Across Amity, Arkansas
Property tax bills in Amity, located in Pike County, AR, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Amity is $65,450. Property taxes are then levied by applying the local tax rate to this assessed value. In Amity, tax bills can vary significantly. For instance, the 25th percentile tax bill is $260, while the 75th percentile tax bill reaches $956, and the 90th percentile tax bill can be as high as $1,482. The highest and lowest median tax bills in the area are both recorded at $507, reflecting some consistency in the median range but also highlighting the potential for higher costs depending on specific property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Amity might find their tax bills relatively manageable, but the variation in tax bills means that individual circumstances can significantly impact how much a homeowner ultimately pays.
Average Amity Tax Bill
$507
Average Pike County Tax Bill
$523
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Amity, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71921 | $125 | $260 | $507 | $956 | $1,482 |
Source: Ownwell