Friendship, Hot Spring County, Arkansas Property Taxes

Name: Property Tax Bills Across Friendship, Hot Spring County, Arkansas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Friendship, AR effective property tax rate: 0.95%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Friendship, AR home value: $53,625
Median annual Friendship, AR tax bill: $280, $2,120 lower than the national median property tax bill of $2,400.

How are property taxes in Hot Spring County calculated?

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

Last Updated March 1, 2025

Friendship, Hot Spring County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.95%

Estimate Property Tax Bill

$509

$473

Ownwell’s Friendship Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Friendship with just two data points. By entering your property's estimated assessed value, our calculator applies Friendship’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 Hot Spring County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Friendship, Hot Spring County, Arkansas

Local government entities in Arkansas set property tax rates, which can vary significantly across the state. Each year, counties like Hot Spring estimate their required budget to deliver essential services and divide this by the total value of all taxable properties within their jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the fundamental annual process.

In Friendship, located in Hot Spring County, the effective property tax rate aligns with the county's median rate of 0.95%. This is slightly below the national median property tax rate of 1.02%. When compared to other cities in Arkansas, Friendship's rate is relatively consistent, reflecting the county's uniform approach to property taxation. The median property tax bill in Friendship is also likely lower than the national median of $2400, offering homeowners a more affordable tax burden. By understanding these local property tax dynamics, homeowners in Friendship can make informed decisions about their property investments and potential tax savings.

Property Tax Rates Across Friendship, Hot Spring County, Arkansas

Source: Ownwell

0.43%

0.71%

1.00%

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 Friendship Tax Rate

0.95%

Median Effective Hot Spring County Tax Rate

0.79%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Friendship, Hot Spring County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
71942	0.24%	0.49%	0.95%	1.10%	1.10%

Source: Ownwell

Property Tax Assessment Values Across Friendship, Hot Spring County, Arkansas

When examining property taxes in Friendship, 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 Hot Spring 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.

In Hot Spring 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 Friendship.

For example, the median home price in Friendship is $53,625, with tax bills ranging significantly across the county. Zip code 71942 has the highest median home price at $53,625.

Property Tax Assessment Values Across Friendship, Hot Spring County, Arkansas

Source: Ownwell

$41,600

$104,050

$166,500

Median Friendship Market Value

$53,625

Median Hot Spring County Market Value

$64,425

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Friendship, Hot Spring County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
71942	$7,380	$17,825	$53,625	$98,450	$126,440

Source: Ownwell

Property Tax Bills Across Friendship, Hot Spring County, Arkansas

In Friendship, located in Hot Spring County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Friendship face a median tax bill of $280, significantly lower than the national median property tax bill of $2,400. The tax bill can vary widely, with the 25th percentile at $99 and the 90th percentile reaching $845. These figures illustrate the range of property tax burdens homeowners might experience, often influenced by factors such as property location, size, and improvements. Lower tax bills can be beneficial, but they may also reflect lower public service funding. Ownwell offers assistance to homeowners by identifying potential savings through property tax appeals and exemptions. By ensuring that property assessments are accurate and fair, Ownwell helps homeowners in Friendship potentially reduce their tax bills, ensuring they only pay what is necessary and fair according to their property's true assessed value.

Property Tax Bills Across Friendship, Hot Spring County, Arkansas

Source: Ownwell

$247

$753

$1,258

Median Friendship Tax Bill

$280

Median Hot Spring County Tax Bill

$477

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Friendship, Hot Spring County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
71942	$55	$99	$280	$568	$845

Source: Ownwell