Caddo Gap, Arkansas Property Taxes
The median property tax rate in Caddo Gap, AR is 0.77%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Caddo Gap at $95,050, the typical annual property tax bill amounts to $730, significantly below the national median of $2,690. Property taxes in Caddo Gap are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Caddo Gap'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 Caddo Gap 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
Caddo Gap, 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 Caddo Gap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caddo Gap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caddo Gap 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 Caddo Gap, Arkansas
Property taxes in Caddo Gap, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caddo Gap is 0.77%, lower than the U.S. national median of 0.99%. Local government entities within Caddo Gap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caddo Gap 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 Caddo Gap's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 71935 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Caddo Gap 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 Caddo Gap Tax Rate
0.77%
Average Pike County Tax Rate
0.84%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caddo Gap, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71935 | 0.73% | 0.74% | 0.77% | 0.83% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Caddo Gap, Arkansas
In Caddo Gap, 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 Caddo Gap, 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 Caddo Gap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 71935, at $730, which is the same for the lowest.
Average Caddo Gap Assessed Value
$95,050
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 Caddo Gap, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71935 | $29,530 | $54,100 | $95,050 | $131,425 | $153,250 |
Source: Ownwell
Property Tax Bills Across Caddo Gap, Arkansas
In Caddo Gap, Pike County, AR, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined through periodic assessments by local authorities. Homeowners in Caddo Gap can expect their property tax bills to vary significantly depending on the value of their property. For instance, the tax bill at the 25th percentile is $423, while at the 75th percentile, it rises to $968. At the 90th percentile, homeowners might see bills as high as $1,110. With a median home price of $95,050, Caddo Gap's property tax rates are relatively modest compared to the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Caddo Gap Tax Bill
$730
Average Pike County Tax Bill
$523
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Caddo Gap, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71935 | $239 | $423 | $730 | $968 | $1,110 |
Source: Ownwell