Sidney, Arkansas Property Taxes
The median property tax rate in Sidney, AR is 0.79%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Sidney, the typical annual property tax bill reaches $544, significantly less than the national median of $2,690. Property taxes in Sidney are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sidney'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 Sidney 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
Sidney, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$639
$593
Ownwell’s Sidney Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sidney with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Sidney to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available by scrolling down. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Sidney, Arkansas
Property taxes in Sidney, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sidney is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Sidney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sidney 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 Sidney's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72577 has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Sidney 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 Sidney Tax Rate
0.79%
Average Sharp County Tax Rate
0.61%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sidney, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72577 | 0.47% | 0.59% | 0.79% | 0.87% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Sidney, Arkansas
In Sidney, 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 Sidney, 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 instance, the median home price in Sidney is $80,850, with tax bills ranging from $309 at the 25th percentile to $1,166 at the 90th percentile. The highest and lowest median tax bills both stand at $544 in the zip code 72577. 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.
Average Sidney Assessed Value
$80,850
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 Sidney, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72577 | $20,500 | $47,350 | $80,850 | $130,550 | $179,700 |
Source: Ownwell
Property Tax Bills Across Sidney, Arkansas
In Sidney, Sharp County, AR, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. Homeowners in Sidney pay property taxes that are calculated by multiplying the assessed value by the local tax rate. The median home price in Sidney is $80,850, and property tax bills vary significantly across different percentiles. For instance, homeowners at the 25th percentile pay around $309, while those at the 75th percentile pay approximately $838. The tax bill can go up to $1,166 for those at the 90th percentile. Factors that influence the property tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Sidney's property taxes are relatively modest, making it a more affordable place for homeowners.
Average Sidney Tax Bill
$544
Average Sharp County Tax Bill
$481
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Sidney, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72577 | $175 | $309 | $544 | $838 | $1,166 |
Source: Ownwell