Fairfield Bay, Cleburne County, Arkansas Property Taxes
Median Fairfield Bay, AR effective property tax rate: 0.58%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Fairfield Bay, AR home value: $260,675
Median annual Fairfield Bay, AR tax bill: $1,558, $842 lower than the national median property tax bill of $2,400.
How are property taxes in Cleburne County calculated?
Property taxes in Fairfield Bay, 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 Fairfield Bay’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fairfield Bay, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Fairfield Bay, Cleburne County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.58%
Estimate Property Tax Bill
$1,512
$1,403
Ownwell’s Fairfield Bay Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fairfield Bay with just two data points.
By entering your property's estimated assessed value, our calculator applies Fairfield Bay’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Cleburne County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Fairfield Bay, Cleburne County, Arkansas
Local government entities determine tax rates, and these can vary significantly even within the same state. This happens because each county annually estimates the budget needed to provide essential services. They then divide this budget by the total value of all taxable property within the county, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual procedure.
In Fairfield Bay, located in Cleburne County, Arkansas, the effective property tax rate stands at 0.58%, which aligns with the highest and lowest rates in the region. This rate is notably lower than the national median property tax rate of 1.02%. The median property tax bill in Fairfield Bay is also more affordable compared to the national median of $2,400. This makes Fairfield Bay an attractive option for property owners seeking lower property tax burdens. Comparing Fairfield Bay’s effective property tax rate to other cities in Arkansas and nationally can provide valuable insights into the financial advantages of owning property in this area.
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 Fairfield Bay Tax Rate
0.58%
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 Cleburne County Tax Rate
0.67%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Fairfield Bay, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72088 | 0.33% | 0.44% | 0.58% | 0.74% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield Bay, Cleburne County, Arkansas
When examining property taxes in Fairfield Bay, AR, 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 Cleburne 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 Cleburne 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 Fairfield Bay. For example, the median home price in Fairfield Bay is $260,675, with tax bills ranging significantly across the county. 72088 has the highest median home price at $260,675.
Property Tax Assessment Values Across Fairfield Bay, Cleburne County, Arkansas
Source: Ownwell
$58,295
$159,485
$260,675
Median Fairfield Bay Market Value
$260,675
Median Cleburne County Market Value
$128,200
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Fairfield Bay, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72088 | $141,813 | $170,985 | $260,675 | $489,990 | $587,148 |
Source: Ownwell
Property Tax Bills Across Fairfield Bay, Cleburne County, Arkansas
In Fairfield Bay, Cleburne County, AR, property tax bills are determined by assessing the property's market value and applying the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the local tax rate to calculate the tax bill. With a median home price of $260,675, homeowners in Fairfield Bay often see tax bills around the national median, though they can range significantly. For example, the tax bill at the 25th percentile is $982, while it can reach up to $4,110 at the 90th percentile. These variations highlight the impact of property values and local tax rates on homeowners' tax obligations.
Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies or opportunities for exemptions, Ownwell helps ensure homeowners are not overpaying. This service is particularly beneficial in areas like Fairfield Bay, where tax bills can vary widely, offering significant savings and peace of mind for homeowners.
Median Fairfield Bay Tax Bill
$1,558
Median Cleburne County Tax Bill
$753
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Fairfield Bay, Cleburne County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72088 | $531 | $982 | $1,558 | $2,786 | $4,110 |
Source: Ownwell