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Arkansas Property Tax

2 min read

2 min read

prepaid property taxes deductionAny individual who owns real property is subject to Arkansas property taxes.

Real property tax is a system of taxation that requires owners of land and buildings to pay an amount of money based on the value of land or buildings.

Arkansas property tax amounts vary depending on your geographic region. For instance, your Arkansas property tax rate will differ from those in a different Arkansas county, city, and even school district.

Who Owes Arkansas State Property Taxes?

If you own property in Arkansas, you will be required to pay Arkansas state property taxes. Even if the property was gifted to you through an estate or you own a rental property, you are still required to pay property taxes by Arkansas law.

There is no minimum or maximum amount to pay on your property taxes in Arkansas. Whether you have a $50,000 or $5,000,000 house, you will owe Arkansas property taxes.

If your property was purchased mid-year, you may work it out with the seller to split the cost of property taxes within the calendar year. Your mortgage interest and closing statements provide documentation.

What is the Arkansas Property Tax Rate?

The Arkansas property tax rates vary from county to county. Local county governments calculate your real property tax base.

Arkansas offers a webpage where you can look up your property taxes. It can be found on the Arkansas state government website.

What Are Arkansas Property Taxes Used For?

The money collected by Arkansas is used for multiple public services like:

  • First responders and law enforcement
  • Government services
  • Municipal infrastructure, construction, or improvements
  • Municipal employee pay
  • Resident services
  • Recreational services
  • Protective services

How Do You Pay Arkansas Property Tax?

If you pay a mortgage, it’s likely you are already paying your property taxes. A standard mortgage payment in Arkansas often includes:

  • Principal
  • Interest
  • Homeowner’s insurance
  • Arkansas property taxes

Look at your current mortgage statement and determine if your property taxes are paid as part of your monthly mortgage. It will likely be listed as a line item on the statement.

You can check with the state government for more information.

When Do You Have to Pay Arkansas Property Taxes?

Arkansas property taxes are due on October 15 of each year. If your property taxes are drawn monthly, you should have no remaining balance at this deadline.

Need More Property Tax Help?

If you’re looking for more state of Arkansas tax help, look no further than H&R Block Virtual. We’ll pair you with a tax pro with state-specific expertise. You can have your taxes done by a real tax pro without visiting an office.

Prefer a different way to file? No problem – you can find Arkansas state tax expertise with all of our ways to file taxes.

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