Property Tax in Hackett, Arkansas
Based on the latest US Census data, the median home value in Hackett is $112,000, resulting in a median annual property tax bill of $542.
Estimate Your Property Tax in Hackett
Enter your actual or desired home value below to see how much you can expect to pay annually based on Hackett's effective tax rate of 0.48%.
Estimated Annual Tax
Understanding Hackett Real Estate Taxes
Prospective buyers in Hackett must factor local tax assessments into their debt-to-income ratios. With a median property value of $112,000, the local government levies an effective tax rate of 0.48%. This translates to an average annual tax bill of $542, which is usually escrowed into your monthly mortgage payments in Arkansas.
It's important to remember that local assessors determine assessed values, which may vary from current market values, altering your exact obligations.
Impact on Mortgages
Most lenders require property taxes to be rolled into your monthly mortgage payment via an escrow account. A 0.48% annual rate on a $500,000 home adds roughly $202 to your monthly overhead in Hackett.
Special Assessments
Your exact tax bill may be influenced by hyper-local municipal bonds, school district levies, and utility assessments in Arkansas. Using the effective rate provides a highly accurate historical baseline for budgeting.
How it compares to local earnings
Housing affordability isn't just about property prices—it's about the correlation between your geographic tax obligations and your local income potential.
In Hackett, the median household income is $41,742 annually. This means the median household commits 1.30% of their gross income directly to property taxes. Financial modelers typically recommend keeping total housing costs below 28% of gross income.
Local Tax Burden
1.30%
Of Median Household Gross Income
Frequently Asked Questions
The average effective property tax rate in Hackett is 0.48%.
For a median-priced home of $112,000 in Hackett, homeowners pay an average of $542 annually in property taxes.
While the average tax bill of $542 in Hackett is an annual obligation, most homeowners pay this monthly through an escrow account managed by their mortgage lender.
The effective rate of 0.48% is calculated by dividing the median annual property taxes paid ($542) by the median home value ($112,000) for properties in Hackett.
Yes, your property taxes in Hackett can change based on reassessments of your home's market value by local Arkansas authorities or changes in municipal and school district tax levies.