Caraway, Poinsett County, Arkansas Property Taxes
Median Caraway, Arkansas effective property tax rate: 0.82%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median Caraway, Arkansas home value: $38,050
Median annual Caraway, Arkansas tax bill: $313, $2,087 lower than the national median property tax bill of $2,400.
How are property taxes in Poinsett County 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 March 1, 2025
Caraway, Poinsett County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.82%
Estimate Property Tax Bill
$312
$290
Property Tax Rates Across Caraway, Poinsett County, Arkansas
Local government entities determine tax rates, leading to significant variations within a state. Annually, each county calculates its necessary budget to fund services, dividing this by the total value of all taxable properties within its jurisdiction. This process establishes the property tax rate. Although votes and legislation play a role in setting these rates, this is the core annual procedure.
Comparing Caraway's effective property tax rate to other cities in Arkansas reveals intriguing insights. Situated in Poinsett County, Caraway has a median property tax rate of 0.82%, which is below both the Arkansas state median and the national median of 1.02%. This lower rate can translate into substantial savings for homeowners, making Caraway an attractive option for those looking to minimize their property tax burden. Understanding these differences can be crucial for property owners seeking the most favorable tax environment. By leveraging these insights, homeowners can make informed decisions about property investments and potential savings in property taxes.
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
0.82%
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 Poinsett County Tax Rate
0.79%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Caraway, Poinsett 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, Poinsett 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 Poinsett County Assessor's Office 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 Poinsett 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 Caraway.
For example, the median home price in Caraway is $38,050, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Caraway, Poinsett County, Arkansas
Source: Ownwell
$43,175
$59,938
$76,700
Median Caraway Market Value
$38,050
Median Poinsett County Market Value
$65,250
Median Arkansas Market Value
$113,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Caraway, Poinsett 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, Poinsett County, Arkansas
In Caraway, Poinsett County, Arkansas, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The property tax rate is then applied to this assessed value to determine the tax bill. Homeowners in Caraway benefit from relatively low property tax bills compared to the national median of $2,400. For instance, the 25th percentile tax bill is $310, while the 75th percentile reaches $561, and the 90th percentile is $710. These amounts reflect how local tax rates and home values influence the final bill.
Understanding these calculations is crucial for homeowners aiming to manage their expenses effectively. This is where Ownwell steps in. By providing expert property tax appeal and exemption services, Ownwell helps homeowners navigate the complexities of property taxes, ensuring they are not overpaying. With a focus on reducing tax liabilities, Ownwell's services can lead to significant savings, making a tangible impact on homeowners' financial well-being.
Median Caraway Tax Bill
$313
Median Poinsett County Tax Bill
$472
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Caraway, Poinsett 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