Mansfield, Sebastian County, Arkansas Property Taxes
The median property tax rate in Mansfield, AR is 0.97%, 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 Mansfield at $73,650, the typical annual property tax bill is $639, which is much lower than the national median of $2,690. Property taxes in Mansfield are calculated based on the assessed value, which is often below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mansfield'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 Mansfield 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
Mansfield, Sebastian County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$714
$663
Ownwell’s Mansfield Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Mansfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mansfield to provide an estimated 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 Mansfield, Sebastian County, Arkansas
Property taxes in Mansfield, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mansfield is 0.52%, higher than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Mansfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mansfield 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 Mansfield's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72944 has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Mansfield 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 Mansfield 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 Mansfield, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72944 | 0.67% | 0.93% | 0.97% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Mansfield, Sebastian County, Arkansas
In Mansfield, 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 Mansfield, 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. The median home price in Mansfield is $73,650, and tax bills can vary significantly. For instance, the 25th percentile tax bill is $356, while the 75th percentile tax bill is $1,069. The highest median tax bill is $639 in the 72944 zip code, which also has the lowest median tax bill of $639. 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 Mansfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mansfield, Sebastian County, Arkansas
Source: Ownwell
$41,350
$117,283
$193,215
Average Mansfield Assessed Value
$73,650
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 Mansfield, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72944 | $17,930 | $39,325 | $73,650 | $120,225 | $173,740 |
Source: Ownwell
Property Tax Bills Across Mansfield, Sebastian County, Arkansas
In Mansfield, 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. The tax rate is applied to this assessed value to determine the tax bill. Homeowners in Mansfield experience property tax bills that can vary significantly. For instance, the 25th percentile tax bill is $356, while the 75th percentile reaches $1069, and the 90th percentile can be as high as $1639. The median home price in Mansfield is $73,650, and the highest median tax bill recorded in the area is $639, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance. For homeowners, understanding these factors is crucial as property taxes can influence the overall cost of homeownership and long-term financial planning.
Average Mansfield Tax Bill
$639
Average Sebastian County Tax Bill
$994
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Mansfield, Sebastian County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72944 | $172 | $356 | $639 | $1,069 | $1,639 |
Source: Ownwell