Lavaca, Sebastian County, Arkansas Property Taxes
The median property tax rate in Lavaca, AR is 1.01%, slightly higher than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $122,000 in Lavaca, the typical annual property tax bill is $1,096, which is below the national median of $2,690. Property taxes in Lavaca are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lavaca'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 Lavaca 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
Lavaca, Sebastian County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,232
$1,143
Ownwell’s Lavaca Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lavaca with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lavaca 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 Lavaca, Sebastian County, Arkansas
Property taxes in Lavaca, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lavaca is 0.52%, which is significantly lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Lavaca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lavaca 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 Lavaca's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest median property tax rate in the county is 0.61%, while the lowest median tax rate is 0.52%. Understanding how these cities compare with Lavaca 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 Lavaca Tax Rate
1.01%
Average Sebastian County Tax Rate
1.04%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lavaca, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72941 | 0.71% | 0.92% | 1.01% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Lavaca, Sebastian County, Arkansas
In Lavaca, 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 Lavaca, 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. For example, the median home price in Lavaca is $122,000, with tax bills ranging from $684 at the 25th percentile to $2,178 at the 90th percentile. The zip code 72941 has both the highest and lowest median tax bill, each at $1,096. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lavaca, Sebastian County, Arkansas
Source: Ownwell
$41,350
$117,283
$193,215
Average Lavaca Assessed Value
$122,000
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 Lavaca, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72941 | $40,230 | $70,635 | $122,000 | $168,938 | $224,215 |
Source: Ownwell
Property Tax Bills Across Lavaca, Sebastian County, Arkansas
In Lavaca, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $122,000, the assessed value forms the basis for determining the tax bill. The local tax rate is then applied to this assessed value to calculate the final tax bill. Homeowners in Lavaca can expect their property tax bills to vary significantly. For example, those in the 25th percentile pay around $684, while those in the 75th percentile see bills closer to $1,654. At the higher end, the 90th percentile tax bill reaches $2,178. These variations are influenced by factors such as property location, home improvements, and changes in market conditions. When compared to the national median property tax rate of 0.99%, Lavaca's property tax bills provide a competitive landscape for homeowners, impacting their financial planning and long-term investment in real estate.
Average Lavaca Tax Bill
$1,096
Average Sebastian County Tax Bill
$994
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Lavaca, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72941 | $357 | $684 | $1,096 | $1,654 | $2,178 |
Source: Ownwell