Caraway, Craighead County, Arkansas Property Taxes
Property Taxes in Caraway, Arkansas
Median Caraway, Arkansas effective property tax rate: 0.91%, significantly lower than the national median of 1.02%, and lower than the Arkansas state median of 0.81%.
Median Caraway, Arkansas home value: $63,370
Median annual Caraway, Arkansas tax bill: $540, lower than the national median property tax bill of $2,400.
How are property taxes in Craighead calculated?
Property taxes in Caraway, 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 Caraway's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Caraway, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Caraway, 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
$577
$535
How Does the Caraway Property Tax Calculator Work?
Use this Caraway property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Caraway'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 Caraway'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 Caraway: rates range from 0.91% in 72419 to 0.91% in 72419, 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 Caraway.
About Caraway Property Taxes
About Property Taxes in Caraway, Craighead, Arkansas
Caraway’s median effective property tax rate of 0.91% is higher 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 Caraway. Homeowners in the 72419 ZIP code carry a median effective rate of 0.91%, while those in the lowest ZIP code also pay 0.91%. This spread shows how school district boundaries and local assessment districts are drawn across Craighead County. Understanding which part of Caraway you live in can make a meaningful difference to your annual tax bill.
Caraway 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 Caraway, 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 Caraway'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 Caraway Tax 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 Craighead County Tax Rate
0.85%
Median Effective Arkansas Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Caraway, Craighead County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72419 | 0.61% | 0.77% | 0.91% | 1.01% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Caraway, Craighead County, Arkansas
When examining property taxes in Caraway, 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.
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. For example, the median home price in Caraway is $63,370, with tax bills ranging significantly across the county. ZIP code 72419 has the highest median home price at $63,370.
Property Tax Assessment Values Across Caraway, Craighead County, Arkansas
Source: Ownwell
$45,905
$120,628
$195,350
Median Caraway Market Value
$63,370
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 Caraway, Craighead County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72419 | $17,225 | $38,390 | $63,370 | $102,365 | $152,100 |
Source: Ownwell
Property Tax Bills Across Caraway, Craighead County, Arkansas
Property tax bills in Caraway are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. That means the bill depends on both what the home is worth and how local taxing authorities set rates for schools, county services, and other public needs. For homeowners, this can create meaningful differences from one property to another, even within the same area.
With a median home price of $63,370, Caraway homeowners often see bills that are lower than many national figures, but the amount can still vary widely. The 25th percentile tax bill is $340, the 75th percentile is $843, and the 90th percentile reaches $1,335. The highest and lowest median tax bill in the area is $540 in ZIP code 72419. Because property taxes are tied to assessed value, changes in market conditions or local rates can directly affect what homeowners owe each year.
Median Caraway Tax Bill
$540
Median Craighead County Tax Bill
$1,273
Median Arkansas Tax Bill
$870
Median United States Tax Bill
$2,400
Property Tax Bills Across Caraway, Craighead County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72419 | $149 | $340 | $540 | $843 | $1,335 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | August 17 |
Links | |
|---|---|
| Craighead Tax Assessor | |
| Website | www.arcountydata.com |