Summers, Arkansas Property Taxes
The median property tax rate in Summers, AR is 0.52%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Summers, the typical annual property tax bill reaches $924, significantly below the national median of $2,690. Property taxes in Summers are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Summers'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 Summers 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
Summers, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$955
Ownwell’s Summers Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Summers with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Summers 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 Summers, Arkansas
Property taxes in Summers, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Summers is 0.52%, notably lower than the U.S. national median of 0.99%. Local government entities within Summers set these rates annually, and they can vary significantly across different neighborhoods. Each year, Summers 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 Summers' effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72769 zip code has both the highest and the lowest median property tax rate in Summers, at 0.52%. Understanding how these cities compare with Summers 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 Summers Tax Rate
0.52%
Average Washington County Tax Rate
0.60%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Summers, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72769 | 0.19% | 0.35% | 0.52% | 0.74% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Summers, Arkansas
In Summers, 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 county's 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 Summers, 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 Summers is $183,600, with tax bills ranging from $439 at the 25th percentile to $3,156 at the 90th percentile. The zip code with the highest median tax bill is 72769, amounting to $924. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Summers Assessed Value
$183,600
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 Summers, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72769 | $53,820 | $108,575 | $183,600 | $291,100 | $435,810 |
Source: Ownwell
Property Tax Bills Across Summers, Arkansas
In Summers, 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 median home price in Summers is $183,600. Property taxes are then determined by applying the local tax rate to the assessed value. For example, a home valued at the median price might have an assessed value that is a fraction of this market price, and the tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the home's location within the city and any applicable exemptions or deductions. Homeowners in Summers face a range of tax bills, with the 25th percentile paying around $439 annually, while those in the 75th percentile pay about $1,704. At the higher end, the 90th percentile sees tax bills reaching up to $3,156. These property taxes fund essential local services, impacting homeowners by contributing to community amenities and infrastructure.
Average Summers Tax Bill
$924
Average Washington County Tax Bill
$1,659
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Summers, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72769 | $179 | $439 | $924 | $1,704 | $3,156 |
Source: Ownwell