In Arkansas, the real estate tax is collected by various forms of local governments, which include the following:
They impose the real estate tax on real properties like land or houses. Personal property taxes in Arkansas are imposed on the owners of the following items:
The amount of tax, which is to be paid, is determined by multiplying the local millage rate with the appraised value.
In Arkansas, the deadline for the valuation of personal properties without having to pay penalty is 31st May. The appraised and taxable value of real estates do not go up exceeding 5% greater than the earlier appraised and taxable value excluding cases where new attachments or significant developments have been made to the property. Nevertheless, the taxable real estate value shall go up on a continuous basis unless it equates to the 20% of its market value.
The due date for payment of real estate tax in Arkansas is 10th October of the year following the appraisal.
In some instances, exemptions are available for handicapped ex-servicemen for every type of real estate and personal property taxes.
Contact Details:
Arkansas Department of Finance and Administration
Assessment Coordination Department
1614 West Third Street
Little Rock, AR 72201
Tel: (501) 324-9240
