Assessment Process (PDF)
FAQ Category: Real Property Questions
Who do I contact about property that has been taken by the state for back taxes?
Contact the State Land Commissioner’s office at (501) 324-9222 or on the web at https://cosl.org/
A homeowner asks, “I’m turning 65 in July, does that mean that my property taxes won’t go up this year?
Amendment 79 caps the assessment on a person’s principle place of residence once he or she is 65 years of age. It does not cap taxes. Even if someone’s assessment does not increase, his or her taxes will if there is a millage rate increase in the city, county, or school district where he or she resides.
I bought my house from my father-in-law for $20,000 last year. Why is it appraised for $80,000?
The appraised value of your property for ad valorem tax purposes is based upon current market value. Market value is the most probable price that a property would bring if exposed to the open market for a reasonable period of time. It is the price that a willing buyer and a willing seller would agree upon under usual and ordinary circumstances in the open market.
Why did the appraiser measure that old barn at the back of my property when it’s not worth anything?
The AACD Rules and Regulations require all real estate improvements to be listed on the property record card. That includes any improvements that are deemed to have no contributory value. Dimensional elements of NCV (no contributory value) improvements are optional.
Do I have to let the appraiser in my house?
No. Interior inspections of residences are not required.
What gives the assessor’s appraiser the authority to come on someone’s property?
Arkansas law makes it the assessor’s responsibility to physically inspect property to determine what is there that gives the value. A.C.A. 26-26-91(b)(1) states: “For the purpose of enabling the assessor to determine just and equitable values of property, he is authorized, and it shall be his duty, to enter upon and make such personal inspections thereof as he shall deem necessary.”
How will structural damage to my property influence its value?
When fire or structural damage causes a property to become structurally unsound, the appraised value may be affected. A field inspection of the property is required to determine the extent of the value impact.
How does the general maintenance and condition of my property influence its value?
The market value of your property is not affected by the general maintenance of your property. Repairs (such as a new roof, fresh paint or landscaping neither add nor detract from the property value for assessment purposes. While these types of repairs can be costly, they are considered to be normal maintenance expenses that all properties incur over time.
How do appraisers determine the market value of my property?
Our appraisal company will inspect all properties to ensure that our records reflect actual property characteristics. They will then review and verify market sales and study cost and income data.
They will then complete a market analysis using Computer Assisted Mass Appraisal (CAMA) software system by comparing properties of similar size, age, location and description. Finally, they will establish reappraisal values that reflect current market conditions as of the lien date for real property (January 1) of the appropriate reappraisal year.