Dennard, Arkansas Property Taxes
The median property tax rate in Dennard, AR is 0.88%, 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 Dennard at $49,075, the typical annual property tax bill is $427, which is significantly below the national median of $2,690. Property taxes in Dennard are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Dennard'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 Dennard or another part of Van Buren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dennard, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$432
$401
Ownwell’s Dennard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dennard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dennard 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 Dennard, Arkansas
Property taxes in Dennard, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dennard is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Dennard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dennard 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 Dennard's effective property tax rate to other regions in Van Buren County and the national median. For comparison, the zip code 72629 has both the highest and lowest median property tax rate of 0.88%, highlighting the uniformity in the tax landscape within this region. Understanding how these areas compare with Dennard 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 Dennard Tax Rate
0.88%
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 Dennard, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72629 | 0.72% | 0.87% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Dennard, Arkansas
In Dennard, 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 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 Dennard, 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 Dennard is $49,075, with tax bills ranging from $228 at the 25th percentile to $1,104 at the 90th percentile. The highest and lowest median tax bills in the area are both $427, found in the 72629 zip code. By understanding 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 Dennard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dennard Assessed Value
$49,075
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 Dennard, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72629 | $9,765 | $25,850 | $49,075 | $86,612 | $130,115 |
Source: Ownwell
Property Tax Bills Across Dennard, Arkansas
In Dennard, located in Van Buren County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The median home price in Dennard is $49,075. Property tax rates are then applied to this assessed value to determine the tax bill. Factors such as location, property size, and improvements can influence the assessed value. The property tax rate in Dennard is notably lower than the national median property tax rate of 0.99%. Homeowners in Dennard can expect a median property tax bill of around $427, with the 25th percentile at $228 and the 75th percentile at $718. For those in the 90th percentile, the tax bill can reach up to $1,104. These tax bills have significant implications for homeowners, affecting their annual expenses and overall cost of homeownership. Lower property taxes in Dennard can make homeownership more affordable compared to other regions with higher rates.
Average Dennard Tax Bill
$427
Average Van Buren County Tax Bill
$534
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Dennard, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72629 | $108 | $228 | $427 | $718 | $1,104 |
Source: Ownwell