Booneville, Sebastian County, Arkansas Property Taxes
The median property tax rate in Booneville, AR is 0.94%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $83,550, the typical annual property tax bill in Booneville amounts to $760, significantly lower than the national median of $2,690. Property taxes in Booneville are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Booneville'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 Booneville or another part of the city, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Booneville, Sebastian County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$785
$729
Ownwell’s Booneville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Booneville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Booneville 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 Booneville, Sebastian County, Arkansas
Property taxes in Booneville, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Booneville is 0.61%, lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Booneville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Booneville 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 Booneville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72927 zip code has the highest median property tax rate of 0.61%, while the 72927 zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Booneville provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Booneville Tax Rate
0.94%
Average Sebastian County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Booneville, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72927 | 0.73% | 0.89% | 0.94% | 0.94% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Booneville, Sebastian County, Arkansas
In Booneville, 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 Booneville, 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 Booneville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $83,550, with tax bills ranging from $401 at the 25th percentile to $1,743 at the 90th percentile. The highest and lowest median tax bills are both $760 in the 72927 zip code.
Property Tax Assessment Values Across Booneville, Sebastian County, Arkansas
Source: Ownwell
$41,350
$117,283
$193,215
Average Booneville Assessed Value
$83,550
Average Sebastian County Assessed Value
$104,400
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Booneville, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72927 | $32,496 | $48,200 | $83,550 | $133,400 | $203,060 |
Source: Ownwell
Property Tax Bills Across Booneville, Sebastian County, Arkansas
Property tax bills in Booneville, located in Sebastian County, AR, are calculated based on the assessed value of a property, which is typically a percentage of its market value. In Booneville, the median home price is $83,550. Property taxes are then determined by applying the local tax rate to this assessed value. For example, homeowners in Booneville can expect a tax bill ranging from the 25th percentile at $401 to the 75th percentile at $1,194, with the 90th percentile reaching up to $1,743. Factors influencing the tax bill include property size, location, and any improvements or renovations made to the home. These property taxes fund essential local services such as schools, public safety, and infrastructure maintenance, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Booneville's property tax rates are relatively moderate, making it an attractive option for homeowners seeking a balance between affordable living and quality public services.
Average Booneville Tax Bill
$760
Average Sebastian County Tax Bill
$994
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Booneville, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72927 | $293 | $401 | $760 | $1,194 | $1,743 |
Source: Ownwell