Norfork, Baxter County, Arkansas Property Taxes
Median Norfork, AR effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Norfork, AR home value: $132,250
Median annual Norfork, AR tax bill: $883, $1,517 lower than the national median property tax bill of $2,400.
How are property taxes in Baxter County calculated?
Property taxes in Norfork, AR are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Norfork’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Norfork, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Norfork, Baxter County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.71%
Estimate Property Tax Bill
$939
$871
Ownwell’s Norfork Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Norfork with just two data points.
By entering your property's estimated assessed value, our calculator applies Norfork’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Baxter County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Norfork, Baxter County, Arkansas
Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate the budget necessary to provide essential services and divide this by the total value of all taxable properties within their jurisdiction, resulting in the property tax rate. This process, while influenced by votes and legislation, essentially determines the annual property tax rate.
In Norfork, Baxter County, Arkansas, property tax rates are shaped by this standard procedure. The effective property tax rate in Norfork is 0.71%, which aligns with the highest and lowest median tax rates in the area, as both are recorded at 0.71%. This rate is notably lower than the national median property tax rate of 1.02%, offering property owners in Norfork a more favorable tax environment compared to many other regions in the United States. By understanding these rates, property owners in Norfork can better anticipate their annual tax obligations and appreciate the relative affordability of property taxes in their area.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Norfork Tax Rate
0.71%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Baxter County Tax Rate
0.65%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Norfork, Baxter County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72658 | 0.48% | 0.59% | 0.71% | 0.90% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Norfork, Baxter County, Arkansas
When examining property taxes in Norfork, AR, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Baxter County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Baxter County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Norfork.
For example, the median home price in Norfork is $132,250, with tax bills ranging significantly across the county. Zip code 72658 has the highest median home price at $132,250.
Property Tax Assessment Values Across Norfork, Baxter County, Arkansas
Source: Ownwell
$50,600
$102,075
$153,550
Median Norfork Market Value
$132,250
Median Baxter County Market Value
$137,150
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Norfork, Baxter County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72658 | $25,080 | $62,300 | $132,250 | $231,900 | $360,300 |
Source: Ownwell
Property Tax Bills Across Norfork, Baxter County, Arkansas
In Norfork, located in Baxter County, Arkansas, property tax bills are determined by assessing a property's market value and applying the local tax rate. With a median home price of $132,250, homeowners in Norfork typically encounter property tax bills that vary significantly. The 25th percentile tax bill is $425, while the 75th percentile reaches $1,740, and the 90th percentile climbs to $2,579. Notably, the median tax bill is $883, which is substantially lower than the national median of $2,400. This disparity highlights how Arkansas's property tax rates can be more favorable compared to the national average of 1.02%.
Homeowners in Norfork can benefit significantly from understanding these nuances. Ownwell offers specialized services to assist homeowners in appealing their property tax assessments and securing exemptions. By leveraging our expertise, homeowners can potentially reduce their tax liabilities, ensuring they pay only what is necessary. This can result in considerable savings, allowing homeowners to allocate their resources more effectively.
Median Norfork Tax Bill
$883
Median Baxter County Tax Bill
$862
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Norfork, Baxter County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72658 | $178 | $425 | $883 | $1,740 | $2,579 |
Source: Ownwell