Depends on the county. Laws vary accordingly. Also, you don't say how big your property is. If it is an average residential plot (less than an acre) that could compound it even if it is legal.

Personally, I wouldn't do it unless I know for a fact that none of the neighbors would object. You may be able to keep the arrow from leaving your property but how would you stop a wounded deer from leaving. You could double lung one and have it run better than a hundred yards and die in someone elses yard or out on a public road. And if any of the neighbors are an anti-hunter you would have hell to pay.

Feel free to disagree if you want but that's how I see it based on the info you have provided.