Gentry, Arkansas Property Taxes
The median property tax rate in Gentry, AR is 0.47%, significantly lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Gentry at $276,150, the typical annual property tax bill amounts to $1,174, well below the national median of $2,690. Property taxes in Gentry are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gentry'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 Gentry 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
Gentry, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$1,298
Ownwell’s Gentry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gentry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gentry 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 Gentry, Arkansas
Property taxes in Gentry, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gentry is 0.47%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Gentry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gentry 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 Gentry's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72734 zip code has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Gentry provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gentry Tax Rate
0.47%
Average Washington County Tax Rate
0.60%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gentry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72734 | 0.37% | 0.43% | 0.47% | 0.67% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Gentry, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gentry, Arkansas. 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 local 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. Assessment notices in Gentry 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 Gentry is $276,150, with tax bills ranging from $936 at the 25th percentile to $3,373 at the 90th percentile. The zip code with the highest median tax bill is 72734, which stands at $1,174. 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 Gentry Assessed Value
$276,150
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 Gentry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72734 | $112,070 | $185,300 | $276,150 | $294,150 | $683,700 |
Source: Ownwell
Property Tax Bills Across Gentry, Arkansas
In Gentry, located in Washington County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate applied to this assessed value determines the annual property tax bill. Key factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. For instance, with a median home price of $276,150, homeowners in Gentry can expect varying tax bills. The 25th percentile tax bill is approximately $936, indicating that a quarter of homeowners pay less than this amount. Conversely, the 75th percentile tax bill is about $2007, meaning three-quarters of homeowners pay less. At the higher end, the 90th percentile tax bill reaches $3373. These property taxes significantly impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Gentry's rates reflect the local economic conditions and funding needs for community services such as schools, infrastructure, and emergency services.
Average Gentry Tax Bill
$1,174
Average Washington County Tax Bill
$1,659
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Gentry, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72734 | $395 | $936 | $1,174 | $2,007 | $3,373 |
Source: Ownwell