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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
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Experience:  15years with H & R Block. Divisional leader, Instructor
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my taxable value on real estate went from 150.00 to 4,330.00

Resolved Question:

my taxable value on real estate went from 150.00 to 4,330.00 from 2011 to 2012 in cleburne county arkansas , is such a increase allowed in state of arkansas
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.

Hello and thank you for using Just Answer,

Unfortunately your property tax increase would be allowed under Arkansas state law. Every 3 years the counties are to assess the properties on the rolls at Fair Market Value . Here is the entire law on what the county appraisers are required to follow.

http://www.arkansas.gov/acd/publications/synopsis_2011.pdf

This does not mean you have no recourse. There steps to take, the first of which you have started, calling your county assessors' office first for an informal appeal. If you are not satisfied with the results then call your county clerk and schedule an appointment with the county equalization board. It is too late to appeal after you have received your tax bill but the assessments for the next tax bill may be appealed.

The Cleburne county equalization board normally meets in the months of August and September to hear assessment appeals. Schedule your appointment for appeal with the county clerk prior to this meeting.

I sincerely XXXXX XXXXX this information will assist you

Customer: replied 1 year ago.


was looking at tax amendment 79, it states if parcel is taxpayers principal place of residence, then for first assessment following reapprasial- not more than 5% increase of assessed value of the parcel for the previous year is allowed & 10% for non principal place of residence. am I not understanding this correctly ? assessed value went from 150.00-4,330 my math must be really bad if this is 10%

Expert:  Robin D. replied 1 year ago.

Hello,

Amendment 79 was modified and clarified by Act 2284, which removes the caps put in place by the amendment after the transfer of a property. The millage could go higher an dis not capped, which means you could have had the maximum increase of 5% but your mil could have been increased which could account for a total percentage increase.

Any increase in value is limited (capped) to not more than five percent (5%) of the assessed value of the property for the previous year, but it shall increase by an additional five percent (5%) each year until it reaches that full assessed value, Ark. Constitution Amd. 79 Sec. 1(c)(1). This provision does not apply to newly discovered real property, new construction, or substantial improvement to real property, Ark. Constitution Amd. 79 Sec. 1(c)(2). If you made any improvements this could account for the increase.

If the owner adds improvements the applicable current five (5%) or ten percent (10%) increase would be added to the previous assessed value and twenty percent (20%) of the value of the improvement would be added to the taxpayer's assessed value of his property and taxed accordingly, ACA 26-26-1122.

If this is your main home and none of the above applies then make your appeal. No improvements, no transfer of ownership, your main home that you filed for homestead exemption, all should fall under the lower amount.

Customer: replied 1 year ago.


ok thanks , I guess its the way they word the law. the improvements to the properety was just above the amount of the increase, so I guess the wording of 20% of the value!!! of improvements is where they get you. is that right ????

Expert:  Robin D. replied 1 year ago.

Yes, if you made improvements to the main home then the amount of improvements would define the true amount that the county would use for assessment.

 

 

Please be aware that you are rating my courtesy and service as a professional, and not necessarily whether you like the information that you are receiving. Even though I could not tell you that the county was wrong, I hope you can positively rate my assistance to you.

Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 7325
Experience: 15years with H & R Block. Divisional leader, Instructor
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