Corning, Clay County, Arkansas Property Taxes
Median Corning, AR effective property tax rate: 0.77%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Corning, AR home value: $59,300
Median annual Corning, AR tax bill: $416, $1,984 lower than the national median property tax bill of $2,400.
How are property taxes in Clay County calculated?
Property taxes in Corning, 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 Corning’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Corning, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Corning, Clay County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.77%
Estimate Property Tax Bill
$457
$424
Property Tax Rates Across Corning, Clay County, Arkansas
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county calculates its required budget annually to provide essential services. The county then divides this budget by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in determining tax rates and budgets, this process occurs annually.
In Corning, located in Clay County, Arkansas, the effective property tax rate can be compared to other cities within the state and across the nation. Arkansas's median property tax rate is below the national median of 1.02%, which results in lower property tax bills compared to the national median bill of $2400. This lower tax rate can make Corning an attractive location for property owners seeking to minimize their tax burden. By understanding how tax rates are set and comparing them to state and national medians, property owners in Corning can make informed decisions about their investments.
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 Corning Tax Rate
0.77%
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 Clay County Tax Rate
0.78%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Corning, Clay County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72422 | 0.48% | 0.62% | 0.77% | 0.86% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Corning, Clay County, Arkansas
When examining property taxes in Corning, 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 Clay 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 Clay 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 Corning. For example, the median home price in Corning is $59,300, with tax bills ranging significantly across the county. Zip code 72422 has the highest median home price at $59,300.
Property Tax Assessment Values Across Corning, Clay County, Arkansas
Source: Ownwell
$16,575
$46,863
$77,150
Median Corning Market Value
$59,300
Median Clay County Market Value
$59,500
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Corning, Clay County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72422 | $7,920 | $27,300 | $59,300 | $93,050 | $132,100 |
Source: Ownwell
Property Tax Bills Across Corning, Clay County, Arkansas
Median Corning Tax Bill
$416
Median Clay County Tax Bill
$445
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Corning, Clay County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72422 | $82 | $230 | $416 | $654 | $964 |
Source: Ownwell