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AR HB1715
Bill
Status
5/5/2025
Primary Sponsor
Robin Lundstrum
Click for details
AI Summary
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Limits assessed value increases on homestead property (principal residence) to no more than 5% above the previous owner's taxable value following a sale or transfer
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Limits assessed value increases on non-homestead property to no more than 10% above the previous owner's taxable value following a sale or transfer
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"Taxable value" is defined as the value on which the seller was assessed property tax at the time of sale or transfer
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Amends Arkansas Code § 26-26-1118 concerning limitations on property assessment increases
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Effective for assessment years beginning on or after January 1, 2026
Legislative Description
To Limit The Increase In The Assessed Value Of Real Property After A Sale Or Other Transfer Of Real Property.
Last Action
Died in House Committee at Sine Die adjournment.
5/5/2025