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Amendment 79 provides up to a $350 tax credit on your principal place of residence and limits how much the assessed value can increase.
There are 3 ways to apply for the homestead credit, they are as follows:
Assessed value is 20% of value, not all property is at 20% due to limitations set by Amendment 79. If real estate is not at 20% of the value, the increase will be 5%, 10% or no increase. (New construction, newly discovered, change in use or substantial improvement does not qualify for limitation it will be assessed at 20% of its value.)
No, once you qualify for the credit it will remain on the property as long as it remains your principle place of residence. If the status changes it is the responsibility of the property owner to notify the Assessor’s office of the change.
No, the owner must fill out a homestead application.
No, real estate is automatically assessed each year. It is the responsibility of the property owner to notify the Assessor of all changes made to the real estate. If you remove, add or the use changes (residential changed to commercial), you are required to give the information to the Assessor.
Garland County is completing a 5-year reappraisal, all property has been revalued for 2017. The next reappraisal will be completed in 2022.
The deadline is May 31 of each year.
Yes, Personal property and Business Personal Property must be declared by May 31 each year, if the assessment is declared after May 31 a 10% penalty is added to the assessment which shall reflect on your tax bill the following year.
Every tangible thing being the subject of ownership, and not forming a part of any parcel of real property.Examples of personal property:
Every tangible thing being the subject of ownership, and not forming a part of any parcel of real property.
All assets owned by the business such as:
No, you assess personal property in the county you live in. However, personal property is assessed where it resides. If you have personal property that resides in a different county, you would declare it in that county.
Yes, however if it’s your first time to assess in Garland County you are are required to assess in person. Thereafter you can assess online, by phone at 501-622-3730 or in person at the Assessor's Office, located at:
200 WoodbineRoom 123Hot Springs, AR 71901
Yes, but the first time you assess the business you are required to assess in person. Visit our website to assess online.