Hartford, Sebastian County, Arkansas Property Taxes
The median property tax rate in Hartford, Arkansas is 0.96%, slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With the median home value in Hartford at $55,375, the typical annual property tax bill is $493, which is significantly below the national median of $2,690. Property taxes in Hartford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hartford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hartford or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hartford, Sebastian County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$532
$493
Ownwell’s Hartford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hartford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hartford 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 Hartford, Sebastian County, Arkansas
Property taxes in Hartford, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hartford is 0.53%, significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Hartford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hartford 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 Hartford's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in the region is found in zip code 72080, with a rate of 0.82%, while zip code 72001 has the lowest median tax rate of 0.33%. Understanding how these cities compare with Hartford 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 Hartford Tax Rate
0.96%
Average Sebastian County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hartford, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72938 | 0.65% | 0.92% | 0.96% | 1.06% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Hartford, Sebastian County, Arkansas
In Hartford, 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 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 Hartford, 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 Hartford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, zip code 72938 has the highest and lowest median tax bill in the area, both at $493. By staying informed, homeowners can take proactive steps to ensure their property taxes are fair and manageable.
Property Tax Assessment Values Across Hartford, Sebastian County, Arkansas
Source: Ownwell
$41,350
$117,283
$193,215
Average Hartford Assessed Value
$55,375
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 Hartford, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72938 | $12,200 | $26,588 | $55,375 | $98,188 | $157,075 |
Source: Ownwell
Property Tax Bills Across Hartford, Sebastian County, Arkansas
In Hartford, located in Sebastian County, AR, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the home's market value, which is periodically evaluated by the county assessor. Factors such as property size, location, and improvements can influence this assessed value. For homeowners in Hartford, the median home price is $55,375. Property tax bills can vary significantly, with the 25th percentile tax bill at $236 and the 75th percentile reaching $869. At the 90th percentile, homeowners might see tax bills as high as $1,424. Compared to the national median property tax rate of 0.99%, Hartford's rates provide a relatively affordable option for property owners. Understanding these factors and how they contribute to your tax bill is crucial for effective financial planning. Homeowners should stay informed about local assessments and any changes in tax rates to anticipate their property tax obligations accurately.
Average Hartford Tax Bill
$493
Average Sebastian County Tax Bill
$994
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Hartford, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72938 | $115 | $236 | $493 | $869 | $1,424 |
Source: Ownwell