Rivervale, Arkansas Property Taxes
The median property tax rate in Rivervale, Arkansas is 0.82%, 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 $17,125 in Rivervale, the typical annual property tax bill amounts to $141, significantly below the national median of $2,690. Property taxes in Rivervale are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Rivervale'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 Rivervale 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
Rivervale, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$140
$130
Ownwell’s Rivervale Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Rivervale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rivervale to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities with ease. 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 Rivervale, Arkansas
Property taxes in Rivervale, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rivervale is 0.82%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Rivervale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rivervale 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 Rivervale's effective property tax rate to other areas in Arkansas and the national median. For comparison, the 72377 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Rivervale provides valuable insights into the varying tax landscape across Poinsett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rivervale Tax Rate
0.82%
Average Poinsett County Tax Rate
0.79%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rivervale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72377 | 0.82% | 0.82% | 0.82% | 0.82% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Rivervale, Arkansas
In Rivervale, 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 Poinsett County Assessor's Office 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 Rivervale, 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 Rivervale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Rivervale are both recorded at $141 in the zip code 72377.
Average Rivervale Assessed Value
$17,125
Average Poinsett County Assessed Value
$65,250
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rivervale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72377 | $9,300 | $12,300 | $17,125 | $21,425 | $40,600 |
Source: Ownwell
Property Tax Bills Across Rivervale, Arkansas
In Rivervale, property tax bills are calculated based on the assessed value of the home and the applicable tax rate set by local authorities. The assessed value is a percentage of the market value of the property, which is determined by the county assessor's office. Various factors, such as the property's location, size, and condition, influence this assessed value. For homeowners in Rivervale, the median home price is $17,125, and property tax bills can vary significantly. At the 25th percentile, homeowners might expect a tax bill around $101, while those at the 75th percentile could see bills up to $176. The highest median tax bill recorded in the area is $141.00, which is notably lower than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by influencing their overall housing costs. Lower tax rates in Rivervale can make homeownership more affordable compared to other regions, potentially attracting new residents seeking lower living expenses.
Average Rivervale Tax Bill
$141
Average Poinsett County Tax Bill
$472
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Rivervale, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72377 | $76 | $101 | $141 | $176 | $379 |
Source: Ownwell