Evansville, Arkansas Property Taxes
The median property tax rate in Evansville, Arkansas is 0.60%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Evansville at $119,750, the typical annual property tax bill is $493, well below the national median of $2,690. Property taxes in Evansville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Evansville’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 Evansville or another part of Washington County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Evansville, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$719
$667
Ownwell’s Evansville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Evansville with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Evansville to provide an accurate estimate of your property tax bill. This invaluable tool helps you anticipate potential tax liabilities, making financial planning simpler. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value is determined by the county and includes any applicable exemptions, ensuring you get a precise calculation for your property tax obligations.
Property Tax Rates Across Evansville, Arkansas
Property taxes in Evansville, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Evansville is 0.60%, lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Evansville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Evansville 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 Evansville's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72729 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Evansville provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Evansville Tax Rate
0.60%
Average Washington County Tax Rate
0.60%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Evansville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72729 | 0.12% | 0.30% | 0.60% | 0.75% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Evansville, Arkansas
In Evansville, 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 Washington 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 Evansville, 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. For example, the highest median tax bill in Evansville is $493.00 in the 72729 zip code, while the lowest median tax bill is also $493.00 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Evansville Assessed Value
$119,750
Average Washington County Assessed Value
$274,150
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Evansville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72729 | $32,310 | $53,000 | $119,750 | $187,850 | $280,210 |
Source: Ownwell
Property Tax Bills Across Evansville, Arkansas
In Evansville, Washington County, AR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Evansville can expect their property tax bills to vary significantly, with the 25th percentile paying around $250 annually and the 75th percentile paying approximately $995. For those in the 90th percentile, the tax bill can reach up to $1,665. These figures are influenced by factors such as property size, location, and improvements made to the home. Compared to the national median property tax rate of 0.99%, Evansville's property tax rates can be relatively moderate, though individual experiences may vary. Homeowners should be aware that these taxes contribute to essential public services such as schools, infrastructure, and emergency services. Understanding how these bills are calculated can help homeowners better manage their finances and anticipate annual expenses.
Average Evansville Tax Bill
$493
Average Washington County Tax Bill
$1,659
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Evansville, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72729 | $116 | $250 | $493 | $995 | $1,665 |
Source: Ownwell