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Arkansas Property Tax

Arkansas Property Tax is imposed individually by each county, city and school district in the state of Arkansas. According to the Arkansas Property Tax Law, each of these political subdivisions should levy tax on personal property and real property. While the real property includes houses or lands, the personal property comprises all types of vehicles and automobiles. Furniture and household objects do not come under Arkansas Personal Property Tax, which is also known as "ad valorem" tax.

All personal and real property taxes are calculated and collected at local level by county tax assessors and collectors. For real estate property, assessment is 20% applied to its market value and the tax due is calculated by multiplying the assessed valued by the local millage rate.

Arkansas Property Tax Rates

One tenth of a percent, commonly known as a mill, is taken as the base for the calculation of your property tax bill. The millage rate is decided by each County individually, generally in the month of September. The assessed value of a property is multiplied by 20 percent and the result is again multiplied by the millage rate to compute the property tax due on that property. You can also use a property tax calculator available online to do this conveniently.

The assessment for agricultural and forest lands is done by considering its ''use" value and not its true market value. To know the actual property tax rates, the residents of the sate of Arkansas should contact the tax assessors of their respective counties. You can get a complete list of tax assessors, collectors and other officials from the office of Assessment Coordination Department (ACD).

Arkansas Property Tax Laws

It is important to know the rules and regulations regarding payment of property taxes If you are a owner of a real estate property in the state of Arkansas. It is specially necessary when you belong to the group which is identified for availing the benefits of property tax exemptions. For example, a disabled veteran satisfying the parameters laid in the law of the State can qualify for the tax exemption on the homestead and personal property.

Even if you are buying, selling or renting real estate in Arkansas, then also you are required to possess the knowledge of Arkansas Property Tax Laws. For most of your information need, you can find the websites of Arkansas Department of Finance and Administration quite useful. Alternatively, you can hire the services of professional property tax experts.

Arkansas Property Tax Records

Arkansas property tax records can be accessed from the individual database of counties, which are available online on their respective websites. The responsibility to maintain such database lies on the staff of the County concerned who use several resources to compile data and provide updated information to the public. To search property tax records, you need to enter the owner's name, location where the property lies, subdivision or the property ID.


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