Bay, Craighead County, Arkansas Property Taxes

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

Median Bay, Arkansas effective property tax rate: 0.87%, slightly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Bay, Arkansas home value: $91,865
Median annual Bay, Arkansas tax bill: $761, $1,639 lower than the national median property tax bill of $2,400.

How are property taxes in Craighead County calculated?

Property taxes in Bay, 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 Bay’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bay, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Bay, Craighead County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.87%

Estimate Property Tax Bill

$799

$742

Ownwell’s Bay Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bay with just two data points. By entering your property's estimated assessed value, our calculator applies 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 Craighead County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Bay, Craighead County, Arkansas

Local government entities set property tax rates, which can vary significantly within a state. Each county annually estimates its required budget for services and divides that by the total value of all taxable property in its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially how the process works each year.

In Bay, located in Craighead County, the effective property tax rate is a key factor for residents to consider. The rate here is reflective of the county's budgetary needs and the total value of taxable property. Compared to the national median property tax rate of 1.02%, Bay's rate offers a different perspective on property taxation.

Residents and potential homeowners in Bay can compare this rate to other cities within Arkansas and the broader U.S. landscape. Such comparisons can provide insights into how property tax rates can influence decisions related to property ownership and investments. Understanding these differences can empower property owners to make informed decisions about their investments and financial planning.

Property Tax Rates Across Bay, Craighead County, Arkansas

Source: Ownwell

0.68%

0.81%

0.93%

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 Bay Tax Rate

0.87%

Median Effective Craighead County Tax Rate

0.83%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bay, Craighead County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72411	0.58%	0.76%	0.87%	0.99%	1.03%

Source: Ownwell

Property Tax Assessment Values Across Bay, Craighead County, Arkansas

When examining property taxes in Bay, 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 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 Bay. For example, the median home price in Bay is $91,865, with tax bills ranging significantly across the county. 72411 has the highest median home price at $91,865.

Property Tax Assessment Values Across Bay, Craighead County, Arkansas

Source: Ownwell

$52,730

$123,665

$194,600

Median Bay Market Value

$91,865

Median Craighead County Market Value

$151,595

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bay, Craighead County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72411	$41,758	$67,862	$91,865	$121,044	$182,818

Source: Ownwell

Property Tax Bills Across Bay, Craighead County, Arkansas

In Bay, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate is then applied to this assessed value to determine the tax bill. Factors such as local government budgets and school funding needs influence the rate. In Craighead County, the median property tax bill is notably lower than the national median, with a typical bill around $761, compared to the national median of $2,400. This can be beneficial for homeowners, making homeownership more affordable. However, discrepancies in assessments can lead to higher tax bills than necessary. This is where Ownwell can step in to help. By offering property tax appeal services, Ownwell assists homeowners in ensuring their property is fairly assessed, potentially lowering their tax bills. With expertise in navigating the complexities of property tax laws, Ownwell provides valuable support to homeowners seeking to save on their annual expenses.

Property Tax Bills Across Bay, Craighead County, Arkansas

Source: Ownwell

$420

$1,072

$1,723

Median Bay Tax Bill

$761

Median Craighead County Tax Bill

$1,210

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Bay, Craighead County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72411	$346	$514	$761	$1,082	$1,559

Source: Ownwell