Arkansas ~ Property Tax: Homestead Tax Credit Eligibility Revised

CCH Tax Day Report

Effective January 26, 2017, the Arkansas property tax credit is revised to state that a property tax owner may not claim more than one homestead credit per calendar year. In addition, language is added to specify that “assessed value” is defined as 20% of the appraised value of the real property.

Act 49 (H.B. 1157), Laws 2017, effective as noted