Hensley, Arkansas Property Taxes
The median property tax rate in Hensley, AR is 0.73%, 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 Hensley at $142,910, the typical annual property tax bill amounts to $966, significantly below the national median of $2,690. Property taxes in Hensley are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hensley'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 Hensley 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
Hensley, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,043
$968
Ownwell’s Hensley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hensley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hensley 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 Hensley, Arkansas
Property taxes in Hensley, Arkansas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hensley is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Hensley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hensley 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 Hensley's effective property tax rate to other areas within Saline County and the national median. For comparison, the zip code 72065 has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these areas compare with Hensley provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hensley Tax Rate
0.73%
Average Saline County Tax Rate
0.83%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hensley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | 0.54% | 0.63% | 0.73% | 0.78% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Hensley, Arkansas
In Hensley, 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 Saline 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 Hensley, 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 Hensley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 72065, with a median tax bill of $966.
Average Hensley Assessed Value
$142,910
Average Saline County Assessed Value
$164,560
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hensley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | $26,789 | $53,735 | $142,910 | $227,155 | $301,717 |
Source: Ownwell
Property Tax Bills Across Hensley, Arkansas
In Hensley, Saline County, AR, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Hensley is $142,910, and the property tax rate in Saline County is relatively low compared to the national median of 0.99%. Homeowners in Hensley typically see a range of property tax bills, with the 25th percentile at $375 and the 75th percentile at $1,639. The highest median tax bill in the area is $966, found in the 72065 zip code. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how these taxes are calculated can help in financial planning and ensuring that they are not overpaying on their property tax bills.
Average Hensley Tax Bill
$966
Average Saline County Tax Bill
$1,361
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hensley, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72065 | $190 | $375 | $966 | $1,639 | $2,205 |
Source: Ownwell