Newport, Independence County, Arkansas Property Taxes
Median Newport, AR effective property tax rate: 0.92%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Newport, AR home value: $43,725
Median annual Newport, AR tax bill: $251, $2,149 lower than the national median property tax bill of $2,400.
How are property taxes in Independence County calculated?
Property taxes in Newport, 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 Newport’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Newport, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Newport, Independence County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.92%
Estimate Property Tax Bill
$402
$373
Property Tax Rates Across Newport, Independence County, Arkansas
Local government entities set tax rates, which can vary widely within a state. 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.
In Newport, located in Independence County, Arkansas, the effective property tax rate is an important factor for homeowners to consider. The median property tax rate in Arkansas stands at 0.92%, which is below the national median of 1.02%. This suggests that homeowners in Newport may experience lower property tax bills compared to many other regions in the U.S. With the national median property tax bill at $2,400, residents in Newport might find their property tax obligations more manageable.
Understanding the intricacies of property tax rates is crucial for homeowners looking to optimize their finances. Comparing Newport’s effective property tax rate to other cities in Arkansas and the national median can provide valuable insights for potential property buyers and current homeowners alike.
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 Newport Tax Rate
0.92%
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 Independence County Tax Rate
0.72%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Newport, Independence County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72112 | 0.18% | 0.30% | 0.92% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Newport, Independence County, Arkansas
When examining property taxes in Newport, 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 Independence 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 Independence 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 Newport.
For example, the median home price in Newport is $43,725, with tax bills ranging significantly across the county. Zip code 72112 has the highest median home price at $43,725.
Property Tax Assessment Values Across Newport, Independence County, Arkansas
Source: Ownwell
$37,550
$61,275
$85,000
Median Newport Market Value
$43,725
Median Independence County Market Value
$66,400
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Newport, Independence County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72112 | $15,225 | $30,712 | $43,725 | $70,200 | $105,655 |
Source: Ownwell
Property Tax Bills Across Newport, Independence County, Arkansas
In Newport, AR, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined based on a percentage of the market value of the property. Newport's median home price stands at $43,725, resulting in property tax bills that typically range from $119 at the 25th percentile to $837 at the 90th percentile. The median tax bill in Newport is $251, significantly lower than the national median of $2,400. This relatively low tax burden can be attributed to the area's lower property values and tax rates.
Homeowners in Newport may find their property tax bills challenging despite the low amounts, especially if their property's assessed value does not accurately reflect its market value. Ownwell offers expertise in property tax appeals and exemptions, helping homeowners ensure their properties are fairly assessed. By leveraging local knowledge and data-driven insights, Ownwell can assist homeowners in reducing their property tax bills, providing peace of mind and potential savings.
Median Newport Tax Bill
$251
Median Independence County Tax Bill
$426
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Newport, Independence County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72112 | $80 | $119 | $251 | $384 | $837 |
Source: Ownwell