Natural Dam, Washington County, Arkansas Property Taxes
The median property tax rate in Natural Dam, AR is 0.48%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $93,250 in Natural Dam, the typical annual property tax bill is $371, significantly below the national median of $2,690. Property taxes in Natural Dam 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 Natural Dam'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 Natural Dam or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Natural Dam, Washington County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$448
$415
Ownwell’s Natural Dam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Natural Dam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Natural Dam 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 Natural Dam, Washington County, Arkansas
Property taxes in Natural Dam, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Natural Dam is 0.48%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Natural Dam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Natural Dam 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 Natural Dam's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72948 zip code has both the highest and lowest median property tax rate of 0.48%. Understanding how these cities compare with Natural Dam 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 Natural Dam Tax Rate
0.48%
Average Washington County Tax Rate
0.60%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Natural Dam, Washington County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72948 | 0.20% | 0.22% | 0.48% | 0.78% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Natural Dam, Washington County, Arkansas
In Natural Dam, 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 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 Natural Dam, 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 Natural Dam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 72948, both at $371.
Property Tax Assessment Values Across Natural Dam, Washington County, Arkansas
Source: Ownwell
$93,250
$320,713
$548,175
Average Natural Dam Assessed Value
$93,250
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 Natural Dam, Washington County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72948 | $50,350 | $84,850 | $93,250 | $126,750 | $163,910 |
Source: Ownwell
Property Tax Bills Across Natural Dam, Washington County, Arkansas
Property tax bills in Natural Dam, Washington County, AR, are calculated based on the assessed value of a property, which is typically a fraction of its market value. Local tax authorities determine the assessed value by evaluating various factors such as the property's location, size, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Natural Dam, the median home price stands at $93,250. Homeowners in the 25th percentile can expect a tax bill around $226, while those in the 75th percentile might see bills closer to $852. At the higher end, the 90th percentile tax bill reaches approximately $1,046. The median tax bill in the area is $371, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Natural Dam Tax Bill
$371
Average Washington County Tax Bill
$1,659
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Natural Dam, Washington County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72948 | $171 | $226 | $371 | $852 | $1,046 |
Source: Ownwell