Waldron, Arkansas Property Taxes
The median property tax rate in Waldron, 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 Waldron at $52,350, the typical annual property tax bill amounts to $396, significantly below the national median of $2,690. Property taxes in Waldron are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Waldron'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 Waldron or another part of Scott County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waldron, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$403
Ownwell’s Waldron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waldron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waldron 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 Waldron, Arkansas
Property taxes in Waldron, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waldron is 0.77%, lower than the U.S. national median of 0.99%. Local government entities within Waldron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waldron 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 Waldron's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72958 zip code has the highest median property tax rate of 0.77%, while the 72958 zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Waldron 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 Waldron 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 Waldron, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72958 | 0.60% | 0.73% | 0.77% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Waldron, Arkansas
In Waldron, 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. In Waldron, 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 Waldron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72958 has both the highest and lowest median tax bills at $396, highlighting the uniformity in tax burdens within the area.
Average Waldron Assessed Value
$52,350
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 Waldron, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72958 | $10,465 | $25,350 | $52,350 | $89,000 | $135,655 |
Source: Ownwell
Property Tax Bills Across Waldron, Arkansas
In Waldron, located in Scott County, AR, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Waldron is $52,350. Property tax rates are applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property’s location, size, and any applicable exemptions. For instance, the 25th percentile tax bill in Waldron is $207, while the 75th percentile tax bill is $673, and the 90th percentile tax bill reaches up to $1,004. These figures indicate a range of potential tax bills homeowners might face, depending on their property’s assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, Waldron’s property tax rates can significantly impact homeowners, influencing their overall financial planning and the affordability of homeownership in the area.
Average Waldron Tax Bill
$396
Average Scott County Tax Bill
$385
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Waldron, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72958 | $96 | $207 | $396 | $673 | $1,004 |
Source: Ownwell