Onia, Arkansas Property Taxes
The median property tax rate in Onia, AR is 0.63%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Onia at $69,750, the typical annual property tax bill reaches $406, significantly less than the national median of $2,690. Property taxes in Onia are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Onia'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 Onia 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
Onia, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$439
$408
Ownwell’s Onia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Onia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Onia 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 Onia, Arkansas
Property taxes in Onia, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Onia is 0.63%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Onia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Onia 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 Onia's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72663 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Onia provides valuable insights into the varying tax landscape across Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Onia Tax Rate
0.63%
Average Stone County Tax Rate
0.71%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Onia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72663 | 0.43% | 0.53% | 0.63% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Onia, Arkansas
In Onia, 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 Stone 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 Onia, 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 Onia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Onia are both $406, found in the 72663 zip code.
Average Onia Assessed Value
$69,750
Average Stone County Assessed Value
$77,600
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Onia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72663 | $18,430 | $38,075 | $69,750 | $119,000 | $161,820 |
Source: Ownwell
Property Tax Bills Across Onia, Arkansas
In Onia, located in Stone County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with the median home price at $69,750, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Homeowners in Onia experience a range of tax bills, with the 25th percentile at $213, the 75th percentile at $714, and the 90th percentile reaching $1,047. This variation illustrates how different factors, such as property size, location, and improvements, influence the final tax amount. Compared to the national median property tax rate of 0.99%, Onia's property tax rates can be seen as relatively moderate, providing some financial relief to homeowners. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly.
Average Onia Tax Bill
$406
Average Stone County Tax Bill
$507
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Onia, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72663 | $116 | $213 | $406 | $714 | $1,047 |
Source: Ownwell