Pulaski mailing new property tax asessments | Arkansas Blog

Friday, July 14, 2017

Pulaski mailing new property tax asessments

Posted By on Fri, Jul 14, 2017 at 2:34 PM

click to enlarge assess.jpg
Pulaski County has completed its first countywide property reappraisal since 2012 and this week began mailing notices of the new values placed on real property for tax purposes.

Joe Thompson, chief deputy in the assessor's office, said the appraisal produced a lower value on 51 percent of the roughly 175,000 taxable parcels of property, higher value on 47 percent and no change in 2 percent. NOTE CORRECTION: I reversed the 47 and 51 figures in the original post.

Those who choose to contest the appraisals have until the third Monday in August to ask for a hearing before he County Equalization Board.

Those 65 and older and the disabled enjoy a freeze on the current rate of taxation on primary residences. Also, for those who experience an increase in value, the tax increase is capped at 5 percent of the rise per year on a primary residence until the new valuation is reached. The cap is 10 percent on property that is not a primary residence.

Appraised value is theoretically the market value of a piece of property. The assessed value for tax purposes is 20 percent of that amount. So, a house with an appraised value of $100,000 would be assessed at $20,000 for tax purposes.  In the Little Rock School District with 70.1 in combined tax millages, that means taxes for city, county and school purposes cost about $1,400 per year.

You can, by the way, look up every parcel in the county and find appraised and assessed value along with photos and home footprints.

UPDATE: Thompson ran some numbers for me on the impact of the reappraisal in dollars.

He said the assessed value of property in Pulaski County had increased by 13.5 percent, or by $779.7 million. But, because of the various circuit breakers, the increase in taxable value was $194 million or 3.6 percent.  That means a corresponding increase in overall tax bills. But the percentage might vary by taxing entity. The effective value rose in the Little Rock School District, for example, by 4.9 percent from 2016 to 2017.

Tags: ,

Sign up for the Daily Update email

Comments (6)

Showing 1-6 of 6

Add a comment

Subscribe to this thread:
Showing 1-6 of 6

Add a comment

More by Max Brantley

Readers also liked…

  • A response to police arrests becomes a tutorial on race, class and policing in Little Rock

    John Walker, the 79-year-old civil rights lawyer, and his associate, Omavi Shukur, 29, a young lawyer devoted to criminal justice reform, talked to press this afternoon about their arrests Monday by Little Rock police for supposedly obstructing governmental operations in observing and attempting to film a routine police traffic stop. It was a tutorial on sharp views of race, class and governance in Little Rock.
    • Sep 29, 2016
  • French Hill votes against disaster aid to Puerto Rico

    Republican U.S. Rep. French Hill alone among Arkansas's House delegation voted last week against a measure that provided $36.5 billion in disaster aid, a portion  for hurricane-ravaged Puerto Rico as well as money for wildfire response and to support the flood insurance program.
    • Oct 14, 2017
  • Donald Trump declares war on Hillary Clinton's marriage

    Donald Trump gave a remarkable interview to the New York Times yesterday in which he declared open season on the marriage of Bill and Hillary Clinton and Bill Clinton's past infidelity. Seems like a loser, but I've been wrong before.
    • Oct 1, 2016

Most Viewed

Most Recent Comments


© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation