Frequently Asked Questions
How do I calculate my tax bill?
The market value of all of your taxable property (as established by the county assessor) is multiplied by 20 % (the assessment level applied in Arkansas). Multiply this assessed value times the millage rate established for your jurisdiction.
How are millage rates established?
School millage is set by election each September. The governing bodies establish county general, county road and city general millage in November. Other millage such as library, and firemen's pension millage are established by election, levied in November of each year and will carry forward as long as the purpose exists.
Why did my property tax increase this year?
One of two things can lead to a tax increase; your property value increased or the millage rate levied in your jurisdiction was increased.
What are the requirements for a taxpayer to receive a $300.00 homestead tax credit on his/her property taxes?
The property has to be the principal place of residence for the tax payer. He must be either an owner, purchaser under a recorded contract to purchase, holder of a recorded life estate, or a person that has formed a revocable trust that owns the property. Residing in a nursing home does not disqualify a person from the benefits of this provision.
What gives the assessor the authority to come on to someone's property?
Arkansas law makes it the assessor's responsibility to physically inspect property to determine what is there that gives it value. A. C. A. 26-26-910(b)(1)
When is the deadline for assessing personal property?
The deadline for assessing all types of personal property is May 31. Assessments filed after this date will include a 10% penalty.