Redfield, Arkansas Property Taxes
The median property tax rate in Redfield, AR is 0.44%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $348,515 in Redfield, the typical annual property tax bill amounts to $1,541, which is well below the national median of $2,690. Property taxes in Redfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Redfield'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 Redfield or another part of Pulaski County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Redfield, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,533
$1,423
Ownwell’s Redfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Redfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Redfield 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 Redfield, Arkansas
Property taxes in Redfield, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Redfield is 0.44%, significantly lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Redfield set these rates annually, and they can vary across different neighborhoods. Each year, Redfield 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 Redfield's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72132 has both the highest and lowest median property tax rate of 0.44%. Understanding how these areas compare with Redfield provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Redfield Tax Rate
0.44%
Average Pulaski County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Redfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72132 | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Redfield, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Redfield, Arkansas. 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 Pulaski 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 Redfield, 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. For instance, the median home price in Redfield is $348,515, with median tax bills for the 25th, 75th, and 90th percentiles all at $1,541. The highest and lowest median tax bills are also $1,541, specifically in the 72132 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 Redfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Redfield Assessed Value
$348,515
Average Pulaski County Assessed Value
$148,242
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Redfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72132 | $348,515 | $348,515 | $348,515 | $348,515 | $348,515 |
Source: Ownwell
Property Tax Bills Across Redfield, Arkansas
In Redfield, located in Pulaski County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. For homeowners in Redfield, the median home price is $348,515, and the median property tax bill is $1,541, which is significantly lower than the national median property tax rate of 0.99%. This lower tax bill can be attributed to the relatively low property tax rates in the area. Factors such as property improvements, changes in market conditions, and local government budget requirements can influence the assessed value and, consequently, the property tax bill. For homeowners, understanding these factors is crucial as it impacts their annual financial planning and the overall cost of homeownership. The consistency in tax bills across different percentiles indicates a stable property tax environment in Redfield.
Average Redfield Tax Bill
$1,541
Average Pulaski County Tax Bill
$1,457
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Redfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72132 | $1,541 | $1,541 | $1,541 | $1,541 | $1,541 |
Source: Ownwell