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Debbie's RiverValleyHome Team
(479) 970-5645
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Arkansas
Property Taxes
Understanding Arkansas Property Taxes
To help you better understand
how property taxes work in Arkansas, below you will find answers to some
of the most commonly asked questions.
Q: What is the Homestead Tax Credit?
A: The Homestead Tax Credit is a reduction of the property taxes for your primary residence of $350 or the amount of your property taxes, whichever is less.
Q: How do I apply for the Homestead Credit?
A: The County courthouse in your county will have a short form for you to fill out. This form only needs to be filled out one time as long as you're at the same primary residence.
Q: When and how will I be billed?
A: Tax bills are generally mailed out in February. Arkansas taxes are paid a year behind, so the tax bill you receive in February will be for the prior year.The deadline for payment of personal property and real estate taxes is October 10th of each year. Arkansas State Law requires that Personal Property Taxes be collected with or before Real Estate Taxes.
Q: How will the amount of my bill be determined?
A: The county will assess your property at 20% of appraised value. The assessed value will be multiplied by the millage (or tax) rate for the location of the property to determine the tax amount.
Q: Will my taxes be prorated in escrow?
A: Generally, yes. You will only be responsible for taxes from the date you take ownership of your
property. You will usually receive a credit for any unpaid taxes for the current calendar year up through the date you take ownership. Remember that our taxes are paid a year behind, so you'll use that credit to help pay the full year taxes when they're due. |
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