Ravenden, Arkansas Property Taxes
The median property tax rate in Ravenden, AR is 0.65%, which is notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $82,150 in Ravenden, the typical annual property tax bill amounts to $483, significantly less than the national median of $2,690. Property taxes in Ravenden are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ravenden'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 Ravenden or another part of Sharp County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ravenden, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$534
Ownwell’s Ravenden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravenden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravenden 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 Ravenden, Arkansas
Property taxes in Ravenden, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ravenden is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Ravenden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravenden 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 Ravenden's effective property tax rate to other areas in Sharp County and the national median. For comparison, the 72459 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Ravenden provides valuable insights into the varying tax landscape across Sharp County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ravenden Tax Rate
0.65%
Average Sharp County Tax Rate
0.61%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravenden, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72459 | 0.49% | 0.59% | 0.65% | 0.83% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Ravenden, Arkansas
In Ravenden, 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 Sharp 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 Ravenden, 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 Ravenden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ravenden is $483.00 in zip code 72459, which is also the lowest median tax bill.
Average Ravenden Assessed Value
$82,150
Average Sharp County Assessed Value
$83,700
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ravenden, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72459 | $21,400 | $43,538 | $82,150 | $126,550 | $200,825 |
Source: Ownwell
Property Tax Bills Across Ravenden, Arkansas
In Ravenden, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $82,150, homeowners can expect their tax bill to vary significantly. The 25th percentile tax bill is around $291, while the 75th percentile reaches $789. At the 90th percentile, homeowners might pay up to $1,200. Several factors influence these tax bills, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the rates in Ravenden can offer some relief to homeowners. However, these taxes still impact household budgets, influencing decisions on property purchases and long-term financial planning. The highest and lowest median tax bills in the area are both $483, indicating some consistency in tax assessments within the zip code 72459.
Average Ravenden Tax Bill
$483
Average Sharp County Tax Bill
$481
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravenden, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72459 | $176 | $291 | $483 | $789 | $1,200 |
Source: Ownwell