Malvern, Arkansas Property Taxes
The median property tax rate in Malvern, AR is 0.79%, 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 $83,580, the typical annual property tax bill in Malvern is $667, significantly below the national median of $2,690. Property taxes in Malvern are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Malvern'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 Malvern or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Malvern, Arkansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,680
Ownwell’s Malvern Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Malvern with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malvern to provide an estimate of 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 Malvern, Arkansas
Property taxes in Malvern, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malvern is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Malvern set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malvern 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 Malvern's effective property tax rate to other areas in Arkansas and the national median. For comparison, the zip code 72104 has both the highest and lowest median property tax rate of 0.79%. Understanding how these areas compare with Malvern 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 Malvern Tax Rate
0.79%
Average Saline County Tax Rate
0.83%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malvern, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | 0.56% | 0.67% | 0.79% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Malvern, Arkansas
In Malvern, 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 Malvern, 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 Malvern helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Malvern is $83,580, with tax bills ranging from $335 at the 25th percentile to $2,552 at the 90th percentile. The zip code 72104 has both the highest and lowest median tax bills at $667.
Average Malvern Assessed Value
$83,580
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 Malvern, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | $21,889 | $44,530 | $83,580 | $184,002 | $282,329 |
Source: Ownwell
Property Tax Bills Across Malvern, Arkansas
In Malvern, AR, property tax bills are determined based on the assessed value of a property, which is typically a percentage of its market value. The county assessor evaluates properties to establish their market value, and then a state-mandated assessment ratio is applied to calculate the assessed value. Factors such as property size, location, and improvements can influence this valuation. The property tax rate in Malvern is applied to the assessed value to determine the annual tax bill. For example, with a median home price of $83,580, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $335, while the 75th percentile reaches $1,431, and the 90th percentile can go up to $2,552. Compared to the national median property tax rate of 0.99%, Malvern's property tax rates can be relatively moderate, but they still represent a significant expense for homeowners. Understanding how these taxes are calculated helps residents plan their finances and potentially seek exemptions or appeals if they believe their property has been over-assessed.
Average Malvern Tax Bill
$667
Average Saline County Tax Bill
$1,361
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Malvern, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72104 | $154 | $335 | $667 | $1,431 | $2,552 |
Source: Ownwell