Witts Springs, Pope County, Arkansas Property Taxes
The median property tax rate in Witts Springs, AR is 0.98%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $53,978 in Witts Springs, the typical annual property tax bill is $605, which is significantly lower than the national median of $2,690. Property taxes in Witts Springs are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Witts Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Witts Springs or another part of the city, gaining insight into the local property tax system is beneficial.
Last Updated June 14, 2024
Witts Springs, Pope County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$529
$491
Ownwell’s Witts Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Witts Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Witts Springs 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 Witts Springs, Pope County, Arkansas
Property taxes in Witts Springs, Arkansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Witts Springs is 0.51%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Witts Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Witts Springs 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 Witts Springs' effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72686 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Witts Springs provides valuable insights into the varying tax landscape across Pope County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Witts Springs Tax Rate
0.98%
Average Pope County Tax Rate
0.92%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Witts Springs, Pope County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72686 | 0.77% | 0.84% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Witts Springs, Pope County, Arkansas
In Witts Springs, 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 local 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 Witts Springs, 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 Witts Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $605.00, specifically in the 72686 zip code.
Property Tax Assessment Values Across Witts Springs, Pope County, Arkansas
Source: Ownwell
$37,200
$87,550
$137,900
Average Witts Springs Assessed Value
$53,978
Average Pope County Assessed Value
$105,400
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Witts Springs, Pope County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72686 | $9,450 | $19,775 | $53,978 | $115,212 | $211,375 |
Source: Ownwell
Property Tax Bills Across Witts Springs, Pope County, Arkansas
In Witts Springs, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is a percentage of the market value, and the local tax rate is then applied to this assessed value to calculate the tax bill. For homeowners in Witts Springs, the median home price is $53,978, and the property tax rate in the region is applied to this value to determine the annual tax bill. Factors such as property location, improvements, and market conditions can influence the assessed value. For instance, tax bills in Witts Springs range significantly, with the 25th percentile tax bill at $259 and the 75th percentile at $1,018. The 90th percentile tax bill can go up to $1,818. Homeowners in the 72686 zip code see a median tax bill of $605, which is consistent across the region. Compared to the national median property tax rate of 0.99%, Witts Springs offers relatively moderate property taxes, providing some financial relief to homeowners while still supporting local services and infrastructure.
Average Witts Springs Tax Bill
$605
Average Pope County Tax Bill
$927
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Witts Springs, Pope County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72686 | $110 | $259 | $605 | $1,018 | $1,818 |
Source: Ownwell