Huntington, Sebastian County, Arkansas Property Taxes
The median property tax rate in Huntington, Arkansas is 0.97%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $73,800 in Huntington, the typical annual property tax bill amounts to $627, which is significantly lower than the national median of $2,690. Property taxes in Huntington are calculated based on the assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Huntington'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 Huntington or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Huntington, Sebastian County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$716
$664
Ownwell’s Huntington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huntington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntington 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 Huntington, Sebastian County, Arkansas
Property taxes in Huntington, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntington is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within Huntington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntington 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 Huntington's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72940 zip code has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these areas compare with Huntington 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 Huntington Tax Rate
0.97%
Average Sebastian County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntington, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72940 | 0.67% | 0.88% | 0.97% | 0.97% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Huntington, Sebastian County, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Huntington, Arkansas. 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 Huntington, 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. For instance, the zip code with the highest median tax bill is 72940 at $627, while the lowest is also 72940 at $627. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Huntington, Sebastian County, Arkansas
Source: Ownwell
$41,350
$117,283
$193,215
Average Huntington Assessed Value
$73,800
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 Huntington, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72940 | $15,520 | $36,550 | $73,800 | $120,500 | $179,374 |
Source: Ownwell
Property Tax Bills Across Huntington, Sebastian County, Arkansas
In Huntington, located in Sebastian County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The median home price in Huntington is $73,800, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the home's location, size, and condition. For instance, tax bills in the 25th percentile are around $334, while those in the 75th percentile can reach approximately $1,103. The highest median tax bill recorded in the area is $627, which aligns with the national median property tax rate of 0.99%. For homeowners in Huntington, understanding these factors is crucial as they directly impact the annual financial obligations associated with property ownership. Accurate assessments ensure fair taxation, allowing homeowners to plan their finances effectively.
Average Huntington Tax Bill
$627
Average Sebastian County Tax Bill
$994
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntington, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72940 | $158 | $334 | $627 | $1,103 | $1,668 |
Source: Ownwell