Property tax relief for Arkansas homeowners

The words tax and relief aren’t often found in the same sentence but Arkansas has some provisions to help relieve the property tax burden on homeowners. With income taxes on most people’s minds this time of year and property tax bills now arriving in mail boxes, I thought this would be a good time to mention some of these benefits.

The technical name is Amendment 79 but it's frequently referred to as the "homestead exemption." The benefits are easy to understand and easy to get.

A credit of $300 per year is available to lower property taxes on a person’s principal place of residence. Notify your county assessor once and the credit will be applied to your tax bill every year as long as the property remains your principal residence. There is a short form which must be filled out (see below).

Another provision allows homeowners age 65 and up to have their appraised evaluation capped. The result is that taxes on your home will never increase due to a reappraisal. But bear in mind, a major improvement to your property can increase the appraised value and a change in the millage rate will also affect the amount of tax you must pay. To have your evaluation capped, you must be age 65 or older on January 1 of the year you apply, complete a simple form and send it with proof of age to your county assessor.

Homeowners who are disabled as defined by the Social Security Administration also qualify for the cap on appraised value regardless of age.

For more details, go to http://www.arkansas.gov/acd/faqs.html.

The Washington County assessor has an explanation of Amendment 79 at http://www.co.washington.ar.us/Assessor/Am79.htm. This is a one-page website and if you read the paragraph above the assessors address, you’ll find a link to the claim form or go directly to http://www.co.washington.ar.us/Assessor/forms/hswbform.pdf.

If your home is located in Benton County, you can access the form at http://www.co.benton.ar.us/Administration/BCAssessor/HomesteadApp.pdf.