How are taxes calculated?

Category: Real Property Questions

To calculate an approximation of the taxes that are due take the assessed value (20% of the current total appraised value) and multiply that by the relevant current millage rate.

For Example:
If your home is appraised at $100,000 and the millage rate for your homes location is 46.66 mils then:

$20,000 (Assessed value is 20% or 1/5th of appraised value)

X 0.04666 (One mill is one thousandth of one percent)

=$933.20 (Estimated Taxes)

Now please remember that this amount of estimated taxes may be reduced by $375 if the home meets amendment 79 requirements for a homestead. Call us to see if you qualify (Hamburg Office: 870-853-2060 or Crossett Office: 870-364-4207).