Bee Branch, Arkansas Property Taxes
The median property tax rate in Bee Branch, AR is 0.92%, which is slightly lower than the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $70,750 in Bee Branch, the typical annual property tax bill amounts to $606, significantly below the national median of $2,690. Property taxes in Bee Branch are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Bee Branch'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 Bee Branch or another part of Van Buren County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bee Branch, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$651
$604
Ownwell’s BEE BRANCH Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in BEE BRANCH with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in BEE BRANCH to estimate your property tax bill, providing a clear understanding of potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available further down the page. Your property’s assessed value, assigned by Van Buren County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Bee Branch, Arkansas
Property taxes in Bee Branch, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bee Branch is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Bee Branch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bee Branch 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 Bee Branch's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72013 zip code has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Bee Branch provides valuable insights into the varying tax landscape across Van Buren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bee Branch Tax Rate
0.92%
Average Van Buren County Tax Rate
0.88%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bee Branch, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72013 | 0.72% | 0.84% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Bee Branch, Arkansas
In Bee Branch, 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 Van Buren 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 Bee Branch, 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 Bee Branch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $606.00, found in the zip code 72013.
Average Bee Branch Assessed Value
$70,750
Average Van Buren County Assessed Value
$61,550
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bee Branch, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72013 | $15,890 | $33,150 | $70,750 | $131,400 | $193,540 |
Source: Ownwell
Property Tax Bills Across Bee Branch, Arkansas
In Bee Branch, Van Buren County, AR, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $70,750 in Bee Branch, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $298, while the 75th percentile tax bill can reach up to $1,135, and the 90th percentile tax bill peaks at $1,704. These variations are influenced by factors such as property location, improvements, and local government budgets. Compared to the national median property tax rate of 0.99%, Bee Branch's property taxes can be seen as relatively moderate. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets more effectively.
Average Bee Branch Tax Bill
$606
Average Van Buren County Tax Bill
$534
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bee Branch, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72013 | $149 | $298 | $606 | $1,135 | $1,704 |
Source: Ownwell