Mansfield, Arkansas Property Taxes
The median property tax rate in Mansfield, AR is 0.86%, slightly below the national median of 0.99% but just above the Arkansas state median of 0.84%. With the median home value in Mansfield at $49,800, the typical annual property tax bill amounts to $423, significantly lower than the national median of $2,690. Property taxes in Mansfield are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Mansfield'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 Mansfield 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
Mansfield, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$428
$397
Ownwell’s Mansfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mansfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mansfield 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 Mansfield, Arkansas
Property taxes in Mansfield, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mansfield is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Mansfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mansfield 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 Mansfield's effective property tax rate to other areas in Scott County and the national median. For comparison, the zip code 72944 has both the highest and lowest median property tax rate within Scott County at 0.86%. Understanding how these areas compare with Mansfield 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 Mansfield Tax Rate
0.86%
Average Scott County Tax Rate
0.77%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mansfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72944 | 0.67% | 0.79% | 0.86% | 0.86% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Mansfield, Arkansas
In Mansfield, 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 local 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 Mansfield, 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 Mansfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Mansfield are both $423, found in the 72944 zip code.
Average Mansfield Assessed Value
$49,800
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 Mansfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72944 | $4,880 | $20,700 | $49,800 | $89,400 | $130,130 |
Source: Ownwell
Property Tax Bills Across Mansfield, Arkansas
In Mansfield, AR, located in Scott County, property tax bills are calculated based on the assessed value of a home, which is determined by a percentage of the market value. For example, with a median home price of $49,800, the property taxes are calculated using the local tax rate and the assessed value. Homeowners in Mansfield typically see tax bills ranging from $192 at the 25th percentile to $752 at the 75th percentile, with the 90th percentile reaching up to $1,105. The highest and lowest median tax bills in Mansfield both stand at $423, which highlights a consistent tax rate within the zip code 72944. This consistency provides homeowners with a predictable tax environment. Compared to the national median property tax rate of 0.99%, Mansfield's tax rates offer a relatively affordable option for homeowners. These property taxes contribute to local services and infrastructure, directly impacting the quality of life in the community. Understanding these factors can help homeowners plan and manage their annual expenses more effectively.
Average Mansfield Tax Bill
$423
Average Scott County Tax Bill
$385
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mansfield, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72944 | $77 | $192 | $423 | $752 | $1,105 |
Source: Ownwell