Garfield, Benton County, Arkansas Property Taxes
Median Garfield, AR effective property tax rate: 0.88%, significantly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%. Median Garfield, AR home value: $174,100. Median annual Garfield, AR tax bill: $1,454, $946 lower than the national median property tax bill of $2,400.
How are property taxes in Benton calculated?
Property taxes in Garfield, 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 Garfield’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Garfield, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Garfield, Benton County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.88%
Estimate Property Tax Bill
$1,532
$1,422
Property Tax Rates Across Garfield, Benton County, Arkansas
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Garfield, located in Benton County, Arkansas, the effective property tax rate stands at 0.88%. This rate is notably lower than the national median property tax rate of 1.02%. On a broader scale, Arkansas's property tax rates are among the lowest in the country. This can be an attractive factor for homeowners looking to minimize their annual tax expenses.
Comparing Garfield's effective property tax rate to other cities in Arkansas, it remains consistent with the state's overall trend of maintaining lower rates. This provides residents with a more manageable property tax bill, especially when compared to the national median property tax bill of $2,400. For homeowners in Garfield, the lower tax rate can contribute to significant savings over time, making it a financially appealing location for property investment.
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 Garfield Tax Rate
0.88%
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 Benton County Tax Rate
1.00%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Garfield, Benton County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72732 | 0.59% | 0.72% | 0.88% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Garfield, Benton County, Arkansas
When examining property taxes in Garfield, Arkansas, 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 Benton 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 Benton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Garfield. For example, the median home price in Garfield is $174,100, with tax bills ranging significantly across the county. Zip code 72732 has the highest median home price at $174,100.
Property Tax Assessment Values Across Garfield, Benton County, Arkansas
Source: Ownwell
$89,882
$249,991
$410,100
Median Garfield Market Value
$174,100
Median Benton County Market Value
$211,150
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Garfield, Benton County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72732 | $47,300 | $98,000 | $174,100 | $289,205 | $447,950 |
Source: Ownwell
Property Tax Bills Across Garfield, Benton County, Arkansas
Median Garfield Tax Bill
$1,454
Median Benton County Tax Bill
$2,090
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Garfield, Benton County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72732 | $339 | $752 | $1,454 | $2,493 | $3,950 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
|---|
Links | |
|---|---|
| Benton Tax Assessor | |
| Website | www.arcountydata.com |
