Arkansas Property Tax

Property taxes are a vital source of revenue for local governments.

Property taxes are a primary source of revenue for local governments in Arkansas. Arkansas Property Taxes are based on the taxable assessed value of real and personal property and the millage rate in each county. The statewide average effective property tax rate in Arkansas is 0.57%. Rates vary across counties and municipalities, typically ranging from 0.5% to 1.5% of the assessed value of your property.

You can find your specific tax rate by contacting your local county assessor’s office. County assessors determine the market value of your property and then apply a percentage (assessment ratio) to arrive at the assessed value used for calculating taxes. The assessment ratio varies by county but is typically around 20%, meaning your assessed value is 20% of your property’s market value.

How to Pay Arkansas Property Tax?

Property owners can file their Arkansas property taxes online, by mail, or in person at the county office. They must also report any changes in their properties to the assessor’s office so that they can receive accurate assessments. They should also make sure to claim all eligible exemptions and deductions, which can lower their property tax bill.

Arkansas Property Tax Due Dates

In Arkansas, the deadline for property tax payments is October 15. Payments can be made online, in person at the county courthouse, or by mail. To save money, residents can also prepay their property taxes before the tax assessment date.

Arkansas Property Tax Exemption
Arkansas Property Tax 1

Arkansas Property Tax Exemption

Property taxes are a crucial source of revenue for local governments and help fund essential services like schools, infrastructure, and emergency services. They are calculated based on the property’s assessed value, which the county assessor determines. The state also provides exemptions and deductions to reduce the property tax homeowners pay. Various property tax exemptions are available in Arkansas, depending on the type of property and the owner’s qualifications. Here’s a summary:

  • Homestead Exemption: Reduces the assessed value of your primary residence by $25,000. Requires Arkansas residency and occupying the property as your main home.
  • Personal Property Exemption: Allows deducting up to $2,000 of the assessed value of personal property like vehicles, boats, and furniture.
  • Public Property Exemption: Property owned by the state, counties, municipalities, and other public entities is exempt.
  • Religious Property Exemption: Property used exclusively for religious worship is exempt.
  • Charitable Property Exemption: Property owned by charitable organizations and used exclusively for charitable purposes is exempt.
  • Cemetery Property Exemption: Property used exclusively for cemetery purposes is exempt.

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