Caraway, Mississippi County, Arkansas Property Taxes

Name: Property Tax Bills Across Caraway, Mississippi County, Arkansas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Caraway, AR effective property tax rate: 0.56%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Caraway, AR home value: $51,672
Median annual Caraway, AR tax bill: $292, $2,108 lower than the national median property tax bill of $2,400.

How are property taxes in Mississippi County calculated?

Property taxes in Caraway, 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 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 March 1, 2025

Caraway, Mississippi County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.56%

Estimate Property Tax Bill

$289

$269

Ownwell’s Caraway Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Caraway with just two data points. By entering your property's estimated assessed value, our calculator applies Caraway’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Mississippi 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 Mississippi County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Caraway, Mississippi County, Arkansas

Local government entities set tax rates, which can vary widely within a state. This variability is due to each county estimating its required budget for services annually and dividing that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws are involved in setting these rates and budgets, this is the annual process in a nutshell.

Caraway in Mississippi County, Arkansas, has an effective property tax rate of 0.56%, which is significantly lower than the national median of 1.02%. This means property owners in Caraway generally pay less in property taxes compared to the average U.S. homeowner. In Arkansas, property tax rates can differ from city to city, but Caraway's rate is among the lower end, providing a more affordable option for homeowners.

Comparing Caraway’s effective property tax rate to other cities in Arkansas and the median rates in the state and the U.S. highlights the potential savings for property owners in Caraway. With such a favorable tax environment, it's clear why many might consider Caraway an attractive place to own property.

Property Tax Rates Across Caraway, Mississippi County, Arkansas

Source: Ownwell

0.61%

0.81%

1.01%

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

0.56%

Median Effective Mississippi County Tax Rate

0.86%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Caraway, Mississippi County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72419	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Caraway, Mississippi 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 Mississippi 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 Mississippi County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Caraway. For example, the median home price in Caraway is $51,672, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Caraway, Mississippi County, Arkansas

Source: Ownwell

$28,060

$119,774

$211,488

Median Caraway Market Value

$51,672

Median Mississippi County Market Value

$66,110

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Caraway, Mississippi County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72419	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Caraway, Mississippi County, Arkansas

In Caraway, Arkansas, property tax bills are calculated based on the assessed value of a home, which is a fraction of its market value. The median home price in Caraway is $51,672, which is significantly lower than the national median. As a result, property tax bills in Caraway are generally more affordable. For instance, the tax bill at the 25th percentile is $252, while at the 75th percentile, it is $331. By comparison, the national median property tax bill is $2,400. Factors such as the local tax rate and any applicable exemptions can influence these bills, affecting homeowners differently. High property taxes can burden homeowners, making it essential to ensure accuracy in assessments. Here, Ownwell steps in to assist homeowners by appealing incorrect assessments and identifying potential exemptions, thereby reducing tax liabilities. By leveraging expert knowledge and local insights, Ownwell helps homeowners in Caraway potentially save hundreds on their property tax bills, ensuring they only pay their fair share.

Property Tax Bills Across Caraway, Mississippi County, Arkansas

Source: Ownwell

$240

$899

$1,557

Median Caraway Tax Bill

$292

Median Mississippi County Tax Bill

$527

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Caraway, Mississippi County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72419	N/A	N/A	N/A	N/A	N/A

Source: Ownwell