Fort Smith, Sebastian County, Arkansas Property Taxes
The median property tax rate in Fort Smith, AR is 1.05%, slightly above the national median of 0.99% and significantly higher than the Arkansas state median of 0.84%. With the median home value in Fort Smith at $105,250, the typical annual property tax bill amounts to $1,022, which is below the national median of $2,690. Property taxes in Fort Smith are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Fort Smith's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Fort Smith or another part of Sebastian County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Fort Smith, Sebastian County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,105
$1,026
Ownwell’s Fort Smith Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Smith with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Smith 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 Fort Smith, Sebastian County, Arkansas
Property taxes in Fort Smith, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Smith is 0.72%, which is lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Fort Smith set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Smith 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 Fort Smith's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72901 zip code has the highest median property tax rate of 0.72%, while the 72936 zip code has the lowest median tax rate of 0.53%. Understanding how these cities compare with Fort Smith provides valuable insights into the varying tax landscape across Sebastian County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Smith Tax Rate
1.05%
Average Sebastian County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Smith, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72901 | 0.74% | 0.99% | 1.05% | 1.05% | 1.05% |
| 72903 | 0.77% | 0.98% | 1.05% | 1.05% | 1.05% |
| 72904 | 0.78% | 0.99% | 1.05% | 1.05% | 1.05% |
| 72905 | N/A | N/A | N/A | N/A | N/A |
| 72908 | 0.84% | 1.04% | 1.05% | 1.05% | 1.05% |
| 72916 | 0.77% | 0.94% | 1.03% | 1.05% | 1.09% |
| 72936 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Fort Smith, Sebastian County, Arkansas
In Fort Smith, 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 Sebastian County Assessor 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 Fort Smith, 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 Fort Smith helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in Fort Smith is $1,905 in the 72916 zip code, while the lowest median tax bill is $570 in the 72904 zip code.
Property Tax Assessment Values Across Fort Smith, Sebastian County, Arkansas
Source: Ownwell
$41,350
$117,283
$193,215
Average Fort Smith Assessed Value
$105,250
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 Fort Smith, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72901 | $37,400 | $52,250 | $73,800 | $102,550 | $146,870 |
| 72903 | $63,400 | $104,750 | $143,000 | $199,375 | $291,530 |
| 72904 | $31,400 | $42,900 | $58,500 | $84,800 | $113,165 |
| 72905 | N/A | N/A | N/A | N/A | N/A |
| 72908 | $79,900 | $99,212 | $133,600 | $180,238 | $237,645 |
| 72916 | $69,600 | $137,250 | $193,215 | $271,500 | $386,293 |
| 72936 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Fort Smith, Sebastian County, Arkansas
In Fort Smith, located in Sebastian County, AR, property tax bills are calculated based on the assessed value of a property. The assessed value is derived from the market value, typically a percentage set by the county. Homeowners in Fort Smith can expect their tax bills to vary significantly depending on their property's assessed value and the specific tax rates applied by local taxing authorities. For instance, the median home price in Fort Smith is $105,250. Homeowners at the 25th percentile of tax bills pay around $604, while those at the 75th percentile see bills closer to $1,627. The 90th percentile tax bill can reach up to $2,478. The highest median tax bill in the region is $1,905 in the 72916 zip code, whereas the lowest median tax bill is $570 in the 72904 zip code. Compared to the national median property tax rate of 0.99%, Fort Smith's property tax rates are relatively moderate, offering homeowners a more affordable tax burden. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Fort Smith Tax Bill
$1,022
Average Sebastian County Tax Bill
$994
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Smith, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72901 | $365 | $510 | $723 | $1,006 | $1,416 |
| 72903 | $639 | $991 | $1,404 | $1,999 | $2,953 |
| 72904 | $303 | $413 | $570 | $830 | $1,135 |
| 72905 | N/A | N/A | N/A | N/A | N/A |
| 72908 | $755 | $974 | $1,354 | $1,831 | $2,430 |
| 72916 | $619 | $1,336 | $1,905 | $2,663 | $3,890 |
| 72936 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell