Amendment 79 Tax Credit Information

This amendment eliminates the "Homestead Tax Refund" after the 1999 tax year refund.

In November 2000, Amendment 79 was passed by the voters and allows a credit of up to $300 on the general taxes only of an eligible taxpayer's homestead real estate tax bill for the 2000 tax year and future.

A homestead is defined as:

  1. A dwelling of a person which is used as his or her principal place of residence.
  2. Dwelling owned by a revocable trust and used as the principle place of residence of a person who formed the trust.

Each county Assessor shall be responsible for identifying the parcels of real property which are used as a homestead residence prior to issuing the tax bills. ** If there is a question on the eligibility status of a property, please call the Assessor's Real Estate Office at 870-845-7511.

The credit will only affect the general taxes (ad valorem taxes) for the 2000 tax year and thereafter. If there are delinquent real estate taxes on the account, the tax credit will only be reflected on the 2000 and future tax amounts.

Only the "general taxes" of a qualifying real estate tax bill is eligible for this credit. Any timber taxes, fire district taxes, or personal property taxes are not eligible for this credit.

The amount of real estate taxes on an eligible homestead may be reduced by up to $300, providing that the no tax assessment shall be reduced to less than zero. In the event that a taxpayer's tax bill is less than $300, there will not be any taxes due for the tax year. In addition, the "remaining credit" shall not be transferred to any other accounts nor will there be any "monetary refunds". Beginning in 2008 the Homestead Tax Credit amount will increase to $350 due to legislation passed in 2007.

General Information

To qualify for a DAV EXEMPTION, you must furnish the Tax Collector each year with a letter of eligibility from the Veteran's Administration dated in the current year.

If your MORTGAGE COMPANY is responsible for paying real estate taxes, please forward your tax statement to them for payment.

It is the tax payer's responsibility to notify the Tax Collector's Office of an ADDRESS CHANGE.

It is also the tax payer's responsibility to examine the tax statement mailed and verify its contents. Should there be a mistake on it return immediately for correction or the Tax Collector's Office is not responsible.

How Taxes Are Calculated

Taxes are calculated by multiplying the "Assessed Value" (20% of the market value established by the Assessor) times the "Millage Rate" (excluding timber tax, fire district, or assessor penalties).

What is a Mill? A mill is one-tenth (1/10) of one cent.

What is the Tax Rate %? It is the percentage of a property's total appraised value that an individual pays in property taxes. (The average Arkansan pays an effective tax rate of less than 1%).

Where Do Your Tax Dollars Go?

The breakdown does not include Assessor penalties, which may have been added due to late assessment. The DEADLINE TO ASSESS IS MAY 31st EACH YEAR.

These percentages will vary (very little) depending on original charges each year.

School Districts - 87.50%
County General - 5.80%
County Road - 4.46%
County Library - 2.24%