On-line assessment of business personal property is now available, go to www.ScoutAssess.com
May 31st is the deadline for assessing personal and business property. Failure to assess by May 31st will result in a 10% late assessment penalty.
On-Line assessment of personal property is now available go to www.ScoutAssess.com
$350 Property Tax Credit
Every homeowner in Arkansas is entitled to a credit of up to $350 toward the property tax on their primary place of residence. You may only claim one credit per household in Arkansas. In addition to the credit, homeowners 65 years of age or older, or who are disabled by Social Security standards, are entitled to a freeze in assessed value on their primary residence.
In order to receive the credit, you must claim it by completing a property tax credit claim. You only need to do this once for your primary place of residence. When you move, you must reapply for the new home, and inform the assessor that you no longer live at the old residence.
The penalty for claiming a credit illegally is repayment of the credit plus an amount equal to 100% of the credit received illegally. You may also elect not to received the credit to which you are entitled for 2 years for each year claimed illegally. Avoid penalties by notifying the assessor immediately if you move, or are no longer using your property for your primary place of residence.