Bald Knob, Arkansas Property Taxes
The median property tax rate in Bald Knob, AR is 0.85%, slightly higher than the state median of 0.84% but lower than the national median of 0.99%. With the median home value in Bald Knob at $50,950, the typical annual property tax bill is $428, which is significantly below the national median of $2,690. Property taxes in Bald Knob 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 Bald Knob'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 Bald Knob 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
Bald Knob, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$433
$402
Ownwell’s Bald Knob Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bald Knob with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bald Knob 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 Bald Knob, Arkansas
Property taxes in Bald Knob, Arkansas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bald Knob is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Bald Knob set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bald Knob 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 Bald Knob's effective property tax rate to other counties in Arkansas and the national median. For comparison, the highest and lowest median property tax rates in White County both stand at 0.85%, specifically in the zip code 72010. Understanding how these cities compare with Bald Knob provides valuable insights into the varying tax landscape across White County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bald Knob Tax Rate
0.85%
Average White County Tax Rate
0.81%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bald Knob, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72010 | 0.59% | 0.77% | 0.85% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Bald Knob, Arkansas
In Bald Knob, 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 White County Assessor's Office 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 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 Bald Knob helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Bald Knob, the highest median tax bill is $428 in the 72010 zip code, while the lowest median tax bill is also $428 in the same zip code.
Average Bald Knob Assessed Value
$50,950
Average White County Assessed Value
$81,100
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bald Knob, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72010 | $4,700 | $17,200 | $50,950 | $96,100 | $162,950 |
Source: Ownwell
Property Tax Bills Across Bald Knob, Arkansas
In Bald Knob, located in White County, AR, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, the median home price in Bald Knob is $50,950. Property taxes are then determined by applying the local tax rate to this assessed value. The tax bill can vary significantly, as seen in the 25th percentile tax bill of $165 and the 75th percentile tax bill of $786. For those at the 90th percentile, tax bills can reach up to $1,314. Several factors influence the final tax bill, including property improvements and changes in market conditions. Homeowners in Bald Knob experience a range of tax bills, which can impact their annual budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Bald Knob's property tax rates are relatively moderate, offering a more affordable option for homeowners in the region.
Average Bald Knob Tax Bill
$428
Average White County Tax Bill
$632
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Bald Knob, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72010 | $63 | $165 | $428 | $786 | $1,314 |
Source: Ownwell