Prescott, Hempstead County, Arkansas Property Taxes

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Property Taxes in Prescott, Arkansas

Median Prescott, Arkansas effective property tax rate: 0.81%, significantly lower than the national median of 1.02%, and lower than the Arkansas state median of 0.81%.
Median Prescott, Arkansas home value: $38,775
Median annual Prescott, Arkansas tax bill: $157, $2,243 lower than the national median property tax bill of $2,400.

How are property taxes in Hempstead calculated?

Property taxes in Prescott, 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 Prescott's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Prescott, knowing local tax details benefits homeowners and investors.

Last Updated April 13, 2026

Prescott, Hempstead County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.81%

Estimate Property Tax Bill

$314

$291

How Does the Prescott Property Tax Calculator Work?

Use this Prescott property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Prescott's median effective tax rate of 0.81% — based on actual property records in Hempstead County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Prescott's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.

Your bill may vary by ZIP code within Prescott: rates range from local differences in school district levies and assessment districts, which can affect your final tax bill.

For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Prescott.

About Prescott Property Taxes

About Property Taxes in Prescott, Hempstead, Arkansas

Prescott’s median effective property tax rate of 0.81% is lower than the Arkansas state median of 0.81% and lower than the national median of 1.02%. This rate reflects the Hempstead County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.

Property tax rates are not uniform across Prescott. Homeowners in some ZIP codes can face different assessed tax burdens depending on how school district boundaries and local assessment districts are drawn across Hempstead County. Understanding which part of Prescott you live in can make a meaningful difference to your annual tax bill.

Prescott homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before August 17, 2026.

If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.

Property Tax Rates Across Prescott, Hempstead County, Arkansas

As noted earlier, local government entities set tax rates, which can vary widely within a state.

Why? Because annually, each county estimates its required budget to provide services 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.

Below, you can compare Prescott's effective property tax rate to other cities in Arkansas and the median property tax rates in Arkansas and the U.S.

Property Tax Rates Across Prescott, Hempstead County, Arkansas

Source: Ownwell

0.52%

0.70%

0.87%

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 PrescottTax Rate

0.81%

Median Effective HempsteadCounty Tax Rate

0.81%

Median Effective ArkansasTax Rate

0.81%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Prescott, Hempstead County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
71857	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Prescott, Hempstead County, Arkansas

When examining property taxes in Prescott, 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 Hempstead County appraisal district 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.

Assessment notices:

In Hempstead County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.

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 Prescott.

For example, the median home price in Prescott is $38,775, with tax bills ranging significantly across the county. The median tax bill is $157, compared with the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.

Property Tax Assessment Values Across Prescott, Hempstead County, Arkansas

Source: Ownwell

$28,450

$55,263

$82,075

Median Prescott Market Value

$38,775

Median Hempstead County Market Value

$47,975

Median Arkansas Market Value

$118,750

Median United States Market Value

$235,294

Property Tax Assessment Values Across Prescott, Hempstead County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
71857	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Prescott, Hempstead County, Arkansas

How are property tax bills calculated in Prescott, Hempstead?

Property tax bills in Prescott are based on the assessed value of a home, which is determined by local tax authorities and used to calculate how much a homeowner owes each year. The bill is influenced by the property’s market value, any applicable exemptions, and the tax rate set by the taxing jurisdictions that serve the area. For a home with a median value of $38,775, even small changes in assessed value or tax rates can affect the final bill.

What factors affect the amount homeowners pay? The local assessment process and the taxes levied by county and other local entities both play a role. In Prescott, the typical property tax bill is $56 at the 25th percentile, $433 at the 75th percentile, and $676 at the 90th percentile. That means homeowners may see widely different bills depending on how their property is assessed and which exemptions apply.

Property Tax Bills Across Prescott, Hempstead County, Arkansas

Source: Ownwell

$159

$260

$361

Median Prescott Tax Bill

$157

Median Hempstead County Tax Bill

$310

Median Arkansas Tax Bill

$870

Median United States Tax Bill

$2,400

Property Tax Bills Across Prescott, Hempstead County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
71857	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	August 17

Links
Hempstead Tax Assessor
Website	www.actdatascout.com

Frequently Asked Property Tax Questions in Prescott, Arkansas

How are property taxes calculated in Prescott, Arkansas?

Property taxes in Prescott, Arkansas are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Prescott, Arkansas?

To appeal your property taxes in Prescott, Arkansas, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Prescott, Arkansas?

Common property tax exemptions in Prescott, Arkansas include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Prescott, Arkansas?

Property tax deadlines in Prescott, Arkansas vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Prescott, Arkansas?

Ownwell provides professional property tax appeal services in Prescott, Arkansas. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.