Trumann, Craighead County, Arkansas Property Taxes
Median Trumann, AR effective property tax rate: 0.90%, significantly lower than the national median of 1.02%, but higher than the Arkansas state median of 0.84%.
Median Trumann, AR home value: $150,105
Median annual Trumann, AR tax bill: $1,304, $1,096 lower than the national median property tax bill of $2,400.
How are property taxes in Craighead calculated?
Property taxes in Trumann, 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 Trumann’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Trumann, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Trumann, Craighead County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.9%
Estimate Property Tax Bill
$1,351
$1,254
Property Tax Rates Across Trumann, Craighead County, Arkansas
Local government entities are responsible for setting tax rates, which can vary significantly within Arkansas. Each year, counties like Craighead estimate their required budget to fund public services and divide this by the total assessed value of all taxable property in their jurisdiction. This calculation determines the property tax rate. Although setting tax rates and budgets involves votes and legislation, this is the basic annual process.
In Trumann, located in Craighead County, the effective property tax rate offers an interesting comparison to other cities in Arkansas. While the median property tax rate in Arkansas is 0.61%, Trumann's rate is slightly higher, reflecting the unique budgetary needs and property values of the area. However, it remains below the national median property tax rate of 1.02%, offering residents a relatively lower tax burden compared to the national average.
Understanding these nuances can help property owners in Trumann make informed decisions about property tax appeals and exemptions, ensuring they are not overpaying and are taking full advantage of potential savings.
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 Trumann Tax Rate
0.90%
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
0.83%
Median Effective Arkansas Tax Rate
0.84%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Trumann, Craighead County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72472 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Trumann, Craighead County, Arkansas
When examining property taxes in Trumann, 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 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.
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 Trumann.
For example, the median home price in Trumann is $150,105, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Trumann, Craighead County, Arkansas
Source: Ownwell
$52,730
$123,665
$194,600
Median Trumann Market Value
$150,105
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 Trumann, Craighead County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72472 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Trumann, Craighead County, Arkansas
In Trumann, located in Craighead County, Arkansas, property tax bills are determined by assessing the property's value and applying the local tax rate. The median home price here is $150,105, which influences the assessed value and subsequently, the tax bill. Homeowners in Trumann experience a range of property tax bills, with the 25th percentile at $724 and the 75th percentile reaching $1,612. At the higher end, the 90th percentile of tax bills is $1,707. Compared to the national median property tax bill of $2,400, many homeowners in Trumann pay less, but there are still opportunities for savings.
Factors affecting property tax bills include the property's assessed value, local tax rate, and any applicable exemptions. Ownwell assists homeowners by providing expert property tax appeal and exemption services. By evaluating your property's assessed value and ensuring all eligible exemptions are applied, Ownwell can help reduce your tax bill, ensuring you only pay what is necessary. This service is invaluable for homeowners looking to manage their property tax expenses effectively.
Median Trumann Tax Bill
$1,304
Median Craighead County Tax Bill
$1,210
Median Arkansas Tax Bill
$877
Median United States Tax Bill
$2,400
Property Tax Bills Across Trumann, Craighead County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72472 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell