Warm Springs, Arkansas Property Taxes
The median property tax rate in Warm Springs, AR is 0.77%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Warm Springs at $47,350, the typical annual property tax bill is $207, significantly below the national median of $2,690. Property taxes in Warm Springs are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Warm Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Warm Springs or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Warm Springs, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$365
$338
Ownwell’s Warm Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warm Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warm 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 Warm Springs, Arkansas
Property taxes in Warm Springs, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warm Springs is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Warm Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warm 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 Warm Springs' effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72478 has both the highest and the lowest median property tax rate of 0.77%. Understanding how these areas compare with Warm Springs provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Warm Springs Tax Rate
0.77%
Average Randolph County Tax Rate
0.59%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warm Springs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72478 | 0.11% | 0.27% | 0.77% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Warm Springs, Arkansas
In Warm 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 Randolph County Assessor 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 Warm 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 Warm Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $207.00 in the 72478 zip code, while the lowest median tax bill is also $207.00 in the same zip code.
Average Warm Springs Assessed Value
$47,350
Average Randolph County Assessed Value
$65,900
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Warm Springs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72478 | $9,450 | $21,444 | $47,350 | $78,031 | $130,075 |
Source: Ownwell
Property Tax Bills Across Warm Springs, Arkansas
In Warm Springs, property tax bills are calculated based on the assessed value of a property, which is determined by the Randolph County assessor's office. The assessed value is a percentage of the property's market value. Homeowners in Warm Springs can expect their property tax bill to vary significantly depending on their property's assessed value and the specific tax rate applied by the county. Several factors influence the final tax bill, including the property's location within Randolph County, its assessed value, and any applicable exemptions or deductions. For instance, the median home price in Warm Springs is $47,350, and property tax bills can range widely. At the 25th percentile, the tax bill is approximately $70, while at the 75th percentile, it rises to around $426. At the 90th percentile, homeowners might see a tax bill as high as $758. These property tax bills are crucial for homeowners to consider, as they directly impact their annual housing costs. Compared to the national median property tax rate of 0.99%, Warm Springs offers relatively manageable property tax rates, making it an appealing location for budget-conscious homeowners.
Average Warm Springs Tax Bill
$207
Average Randolph County Tax Bill
$338
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Warm Springs, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72478 | $26 | $70 | $207 | $426 | $758 |
Source: Ownwell