Harriet, Arkansas Property Taxes
The median property tax rate in Harriet, AR is 0.76%, which is lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With a median home value of $42,150 in Harriet, the typical annual property tax bill amounts to $377, significantly below the national median of $2,690. Property taxes in Harriet are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. By understanding Harriet's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve considerable annual savings. Whether you reside in the heart of Harriet or elsewhere in the county, a thorough understanding of the local property tax system can be highly beneficial.
Last Updated June 14, 2024
Harriet, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$320
$297
Ownwell’s Harriet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harriet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harriet to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Harriet, Arkansas
Property taxes in Harriet, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harriet is 0.76%, which is lower than both the Arkansas state median and the U.S. national median of 0.99%. Local government entities within Harriet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harriet estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Harriet's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72617 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Harriet provides valuable insights into the varying tax landscape across Searcy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harriet Tax Rate
0.76%
Average Searcy County Tax Rate
0.76%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harriet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72617 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
| 72639 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Harriet, Arkansas
In Harriet, Arkansas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Searcy County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Harriet, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Harriet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Harriet is $42,150, with tax bills ranging from $191 at the 25th percentile to $1,005 at the 90th percentile.
Average Harriet Assessed Value
$42,150
Average Searcy County Assessed Value
$53,950
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harriet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72617 | $9,400 | $9,400 | $9,400 | $9,400 | $9,400 |
| 72639 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Harriet, Arkansas
In Harriet, Searcy County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Harriet is $42,150. Homeowners in this region can expect their property tax bill to vary significantly based on their property's assessed value. For instance, the 25th percentile tax bill is around $191, while the 75th percentile tax bill is approximately $682. At the higher end, the 90th percentile tax bill reaches up to $1,005. These tax bills are influenced by multiple factors, including the home's market value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Harriet's tax rates can be considered relatively moderate, which can be a financial relief for homeowners. Understanding these factors can help homeowners in Harriet better anticipate their annual property tax obligations and manage their finances accordingly.
Average Harriet Tax Bill
$377
Average Searcy County Tax Bill
$434
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Harriet, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72617 | $89 | $89 | $89 | $89 | $89 |
| 72639 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell