Hermitage, Bradley County, Arkansas Property Taxes
Median Hermitage, Arkansas effective property tax rate: 1.02%, significantly higher than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Hermitage, Arkansas home value: $31,750
Median annual Hermitage, Arkansas tax bill: $342, $2,058 lower than the national median property tax bill of $2,400.
How are property taxes in Bradley calculated?
Property taxes in Hermitage, Arkansas 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 Hermitage’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hermitage, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hermitage, Bradley County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.02%
Estimate Property Tax Bill
$329
$305
Property Tax Rates Across Hermitage, Bradley County, Arkansas
Local government entities in Arkansas set tax rates, which can vary widely within the state. This variation occurs because each county, like Bradley County, annually estimates its required budget to provide essential services. The county then divides this budget by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this calculation is at the core of the annual process.
In Hermitage, located in Bradley County, the effective property tax rate can be compared to other cities across Arkansas, as well as to the median property tax rates in the state and the U.S. While Arkansas's property tax rates may differ, understanding how Hermitage's rates stack up against state and national medians can offer valuable insights for property owners. This comparison is crucial for residents seeking to understand their tax obligations and explore potential savings through property tax appeals and exemptions.
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 Hermitage Tax Rate
1.02%
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 Bradley County Tax Rate
1.02%
Median Effective Arkansas Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hermitage, Bradley County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71647 | 0.59% | 1.00% | 1.02% | 1.03% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Hermitage, Bradley County, Arkansas
When examining property taxes in Hermitage, 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 Bradley County Assessor 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 Bradley 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 Hermitage. For example, the median home price in Hermitage is $31,750, with tax bills ranging significantly across the county. Zip code 71647 has the highest median home price at $31,750.
Property Tax Assessment Values Across Hermitage, Bradley County, Arkansas
Source: Ownwell
$28,000
$36,700
$45,400
Median Hermitage Market Value
$32,250
Median Bradley County Market Value
$40,300
Median Arkansas Market Value
$118,750
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hermitage, Bradley County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71647 | $2,780 | $10,550 | $32,250 | $61,750 | $104,840 |
Source: Ownwell
Property Tax Bills Across Hermitage, Bradley County, Arkansas
Median Hermitage Tax Bill
$326
Median Bradley County Tax Bill
$410
Median Arkansas Tax Bill
$870
Median United States Tax Bill
$2,400
Property Tax Bills Across Hermitage, Bradley County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71647 | $52 | $114 | $326 | $591 | $819 |
Source: Ownwell