![]() ![]() Rates in the county depend on the city and the school district in which your house is located. Saline County sits between Little Rock and Hot Springs in Central Arkansas. The vast majority of property taxes in the county go to support local schools. Faulkner Countyįaulkner County is one of the most populous counties in Arkansas, but its average effective property tax rate of 0.67% doesn't rank quite as high. You can find the highest rates in Sebastian county in the city of Fort Smith in the Fort Smith School District. Median property tax payments in the county are just $1,013 per year. Sebastian County sits on the Arkansas River, along the state border with Oklahoma. If you have questions about how property taxes can affect your overall financial plans, a financial advisor in Fayetteville can help you out. That’s good for an effective property tax rate of 0.73%.Īctual rates (which apply to assessed value) range from 52.45 mills in rural Greenland School District to reduced mills in parts of Fayetteville School District that overlap with the cities of Elkins, Farmington and Johnson. The median home value in Washington County is just under $184,300 and the typical homeowner pays $1,344 in property taxes annually. Washington County Photo credit: ©/dlewis33 ![]() That's the highest median annual payment in the state. Typically, homeowners in Benton County pay $1,388 in property taxes every year. Rates are highest in the Pea Ridge school district. The average millage rate in Benton County is 55.80 mills. Benton Countyīenton County, in the northwest corner of the state, encompasses the cities of Bentonville, Rogers and parts of Springdale. Across the county, millage rates range from 7.45 mills. The average millage rate in Pulaski County is 58.75. That's the highest in Arkansas, but it's still below the 0.99% national average. The average homeowner in Pulaski County pays $1,388 per year in property taxes, which works out to an effective property tax rate of 0.86%. Pulaski County, the most populous county in Arkansas, also has the highest property taxes in the state. Want to learn more about your mortgage payments? Check out our mortgage calculator. The table below shows average effective property tax rates, as well as median property tax payments and home values, for every county in Arkansas. This refers to the average annual property tax payment divided by the average property value. The millage rates in Arkansas vary by county, city and school district.Īnother way of looking at property taxes is the average effective rate. So if your tax rate is 30 mills and your assessed value is $20,000, your property tax bill would be $600. A mill is equal to 1/1,000, or one tenth of a percent. Tax rates in Arkansas are applied in terms of mills. So even if the market value doubles, the assessed value can only increase by 5%. One important note about assessed value in Arkansas is that it cannot increase by more than 5% in any one year. For example, a home that has a market value of $100,000 would have an assessed value of $20,000. Tax rates, however, do not apply to appraised value, but rather to assessed value.Īssessed value is equal to 20% of the appraised value of a property. The appraised value is equal to the market value, which is the price of the house if it was to be sold on the open market. Property in Arkansas is regularly appraised by professional appraisers that are designated by the state. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Our Arkansas mortgage guide can also help you feel a little better about the home buying process by breaking down information about mortgage rates and other details in the Natural State.Ī financial advisor can help you understand how homeownership fits into your overall financial goals. Not having to worry about the difference in property taxes from county to county can help relieve some of the stress that comes with purchasing a home. The statewide average effective property tax rate is 0.57%. The majority of the state's counties have median annual property tax payments below $800. ![]() Property taxes in Arkansas are lower than in most of the rest of the country. Taxes are based off the property’s appraised value, or market value. In the state of Arkansas, residential property is taxed at the state, county, city and school district level. Arkansas Property Taxes Photo credit: ©/Natalia Bratslavsky ![]()
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