Boles, Scott County, Arkansas Property Taxes
The median property tax rate in Boles, AR is 0.77%, 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 $42,450 in Boles, the typical annual property tax bill is $334, significantly below the national median of $2,690. Property taxes in Boles are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Boles'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 Boles or another part of Scott County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boles, Scott County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$327
$303
Ownwell’s Boles Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boles with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boles 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 Boles, Scott County, Arkansas
Property taxes in Boles, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boles is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Boles set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boles 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 Boles' effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72926 has the same median property tax rate of 0.77%. Understanding how these cities compare with Boles provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boles Tax Rate
0.77%
Average Scott County Tax Rate
0.77%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boles, Scott County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72926 | 0.59% | 0.72% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Boles, Scott County, Arkansas
In Boles, 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 Scott 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. Assessment notices in Boles 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, in Boles, the median home price is $42,450, with tax bills ranging from $187 at the 25th percentile to $902 at the 90th percentile. The highest and lowest median tax bills both stand at $334 in the 72926 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Boles, Scott County, Arkansas
Source: Ownwell
$31,450
$45,613
$59,775
Average Boles Assessed Value
$42,450
Average Scott County Assessed Value
$49,950
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boles, Scott County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72926 | $8,295 | $23,125 | $42,450 | $78,125 | $119,685 |
Source: Ownwell
Property Tax Bills Across Boles, Scott County, Arkansas
In Boles, located in Scott County, AR, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate. For example, with a median home price of $42,450, the assessed value is determined, and the appropriate tax rate is applied to calculate the tax bill. Several factors influence the tax bill, including the home's assessed value and the local tax rate. Homeowners in Boles can expect tax bills to vary significantly. The 25th percentile tax bill is $187, while the 75th percentile reaches $547, and the 90th percentile goes up to $902. The highest and lowest median tax bills in the area are both $334 in the 72926 zip code. Compared to the national median property tax rate of 0.99%, Boles' property tax rates are relatively moderate, providing a more affordable option for homeowners. This variability in tax bills can significantly impact homeowners' finances, influencing decisions on property investments and budgeting.
Average Boles Tax Bill
$334
Average Scott County Tax Bill
$385
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Boles, Scott County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72926 | $84 | $187 | $334 | $547 | $902 |
Source: Ownwell