Chapter 15: Taxes and Assessments

Ad Valorem Taxes

County appropriates Budget

Schools
County General
Jails
Roads
Cities

Clark County:

County General .0600

Library .0200
Roads .0110
Jail fund .0200
Sanitation .0100
Schools .2322

Total millage .4420

Add inside Arkadelphia

City General .0778

City Streets .0110

Property appraisals (at least every 3 years)

Look to actdatatscout.com for the assessed value. Calculate 20% of value and
multiply by the mileage rate.

Home owners 350.00 credit

Assessed value can only increase 5% per year, and stops increasing for a home
owners primary residence at age 65.

Exempt properties:

Disabled veterans
Churches
Schools

Tax payers can appeal appraisals through the Equalization Board.

Bills go out the first business day of March, for the previous year, and are due by
October 10, of each year.

Penalty for being late is 10% after October 10, and interest of 10% per annum.

The tax lien is immediately attached to the property, and if it is not paid by January
1 of the next year a list of all the delinquent property is published in the local paper.

After 3 years of non-payment the property is deeded (certified) to the State.

The original owner of record (and only the owner) can file a “Petition to Redeem”
with the state by paying all taxes and penalties for the next 4 years.

Then the State will have a Tax Sale at the Courthouse of each county.

Sales to the highest bidder, but the original owner still has another 12 month period
to redeem the property by paying everything current, plus paying the buyer interest
on the money they invested.

Special Assessments (School Bonds, Roads, Hospitals, etc.)

Improvement Districts (Sewers, Streets and sidewalks, Parks, etc.)

Vote in the Improvement District, sell bonds, use the funds for the improvements
and make payments on the bonds with the taxes collected.

Income Taxes: (Capital Gains)

Primary residence-

Investment properties-

More than 1 year (15%)

Less than one year (ordinary income)

Internal Revenue Code 1031

Sale on contract (owner financing)

Deductable items:

Conveyance tax: (Document Stamps)