Bono, Craighead County, Arkansas Property Taxes
Property Taxes in Bono, Arkansas
Median Bono, Arkansas effective property tax rate: 0.91%, significantly lower than the national median of 1.02%, and higher than the Arkansas state median of 0.81%.
Median Bono, Arkansas home value: $138,075
Median annual Bono, Arkansas tax bill: $1,191, lower than the national median property tax bill of $2,400.
How are property taxes in Craighead calculated?
Property taxes in Bono, Arkansas 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 Bono's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bono, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Bono, Craighead County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.91%
Estimate Property Tax Bill
$1,256
$1,166
How Does the Bono Property Tax Calculator Work?
Use this Bono property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Bono's median effective tax rate of 0.91% — based on actual property records in Craighead County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Bono's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Bono: rates range from 0.91% in 72416 to 0.91% in 72416, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Bono.
About Bono Property Taxes
About Property Taxes in Bono, Craighead, Arkansas
Bono’s median effective property tax rate of 0.91% is lower than the Arkansas state median of 0.81% and lower than the national median of 1.02%. This rate reflects the Craighead County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Bono. Homeowners in the 72416 ZIP code carry a median effective rate of 0.91%, while those in the same ZIP code pay 0.91%. This spread reflects how school district boundaries and local assessment districts are drawn across Craighead County. Understanding which part of Bono you live in can make a meaningful difference to your annual tax bill.
Bono homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the August 17, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Bono, Craighead County, Arkansas
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Bono's effective property tax rate to other cities in Arkansas and the median property tax rates in Arkansas and the U.S.
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 BonoTax Rate
0.91%
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 CraigheadCounty Tax Rate
0.85%
Median Effective ArkansasTax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bono, Craighead County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72416 | 0.62% | 0.80% | 0.91% | 0.99% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Bono, Craighead County, Arkansas
When examining property taxes in Bono, 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 Craighead 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.
Assessment notices:
In Craighead County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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 Bono.
For example, the median home price in Bono is $138,075, with tax bills ranging significantly across the county. 72416 has the highest median home price at $138,075.
Property Tax Assessment Values Across Bono, Craighead County, Arkansas
Source: Ownwell
$45,905
$120,628
$195,350
Median Bono Market Value
$138,075
Median Craighead County Market Value
$151,898
Median Arkansas Market Value
$118,750
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bono, Craighead County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72416 | $62,760 | $90,000 | $138,075 | $190,665 | $264,859 |
Source: Ownwell
Property Tax Bills Across Bono, Craighead County, Arkansas
Property tax bills in Bono are based on the assessed value of a home and the local tax rate set for Craighead County. When a property’s market value is determined, that value is used to calculate the assessed amount, which then becomes the basis for the tax bill. For homeowners in Bono, this means the amount owed can change as home values and local rates change.
With a median home price of $138,075, property taxes can have a noticeable impact on household costs. The tax bill typically reflects both the value of the home and the tax obligations tied to local services and public needs. In Bono, the median property tax bill is $1,191, while bills can range from $745 at the 25th percentile to $1,702 at the 75th percentile and reach $2,450 at the 90th percentile. That variation shows how much a homeowner’s bill can differ based on property value and assessment.
Median Bono Tax Bill
$1,191
Median Craighead County Tax Bill
$1,273
Median Arkansas Tax Bill
$870
Median United States Tax Bill
$2,400
Property Tax Bills Across Bono, Craighead County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72416 | $473 | $745 | $1,191 | $1,702 | $2,450 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | August 17 |
Links | |
|---|---|
| Craighead Tax Assessor | |
| Website | www.arcountydata.com |