Goshen, Washington County, Arkansas Property Taxes
The median property tax rate in Goshen, Arkansas is 0.76%, notably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Goshen at $281,100, the typical annual property tax bill amounts to $1,945, which is below the national median of $2,690. Property taxes in Goshen are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Goshen'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 Goshen 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
Goshen, Washington County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$2,136
$1,982
Ownwell’s Goshen Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Goshen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goshen to provide an estimate of your property tax bill. This invaluable tool helps you understand potential tax liabilities. For those interested in seeing trends at the neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for tax purposes, taking into consideration any applicable exemptions.
Property Tax Rates Across Goshen, Washington County, Arkansas
Property taxes in Goshen, Arkansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goshen is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Goshen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goshen 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. Understanding how Goshen's effective property tax rate compares to other areas 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 Goshen Tax Rate
0.76%
Average Washington County Tax Rate
0.60%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goshen, Washington County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72735 | 0.39% | 0.58% | 0.76% | 0.84% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Goshen, Washington County, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Goshen, 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 Washington 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 Goshen, 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 instance, the median home price in Goshen is $281,100, with tax bills ranging from $1,065 at the 25th percentile to $6,767 at the 90th percentile. The zip code 72735 has the highest and lowest median tax bill of $1,945. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Goshen, Washington County, Arkansas
Source: Ownwell
$93,250
$320,713
$548,175
Average Goshen Assessed Value
$281,100
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 Goshen, Washington County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72735 | $101,000 | $167,725 | $281,100 | $597,312 | $878,610 |
Source: Ownwell
Property Tax Bills Across Goshen, Washington County, Arkansas
In Goshen, located in Washington County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Goshen is $281,100. Property tax rates are applied to this assessed value to determine the tax bill. For instance, homeowners in the 25th percentile can expect a tax bill of around $1,065, while those in the 75th percentile might pay about $4,181. At the 90th percentile, tax bills can reach $6,767. Various factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. Homeowners in Goshen should be aware of how these elements affect their annual tax obligations. Compared to the national median property tax rate of 0.99%, the property taxes in Goshen can vary significantly, impacting homeowners' budgets and financial planning. The highest and lowest median tax bills both stand at $1,945 in the 72735 zip code, indicating some consistency in tax assessments within the area.
Average Goshen Tax Bill
$1,945
Average Washington County Tax Bill
$1,659
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Goshen, Washington County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72735 | $604 | $1,065 | $1,945 | $4,181 | $6,767 |
Source: Ownwell