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This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.
Arkansas Property Tax Payments Due October 15 Check out www.ar-tax.org to find online payment options available in Arkansas counties LITTLE ROCK, Ark.--(BUSINESS WIRE)-- The statewide personal and ...
County assessor: Values real property and personal property for taxation and maintains parcel records. Circuit clerk: Collects, files, records, and processes legal court documents and reports to the Administrative Office of the Courts, part of the Arkansas Judiciary.
The assessment is made up of two components—the improvement or building value and the land or site value. The property tax is the main tax supporting local education, police, fire protection, government, roads, and most infrastructure, e.g. sewers, bridges, street lights. Many state and local jurisdictions add personal property taxes.
A property tax assessment is when a local tax assessor will evaluate your property to determine how to tax your property. Factors that are included in the assessment are market value, location ...
The proceeds from each sale of tax delinquent property are dedicated to public schools throughout the state. The Land Commissioner also serves as leasing agent for oil, natural gas, sand and gravel deposits on state lands, administers the beds of navigable rivers and streams, and is custodian of Arkansas' original land records. [4]
A 4% tax is due on the sale of all mixed drinks (except beer and wine) sold for "on-premises" consumption. A 3% tax is due on beer sold for off-premises consumption. Property taxes are assessed on real and personal property; only 20% of the value is used as the tax base.
Arkansas does not levy an estate tax. The federal government does have an estate tax, though, and Arkansas residents may be subject to that if the value of their estate is high enough. This guide ...