Loading chat...

AR HB1912

Bill

Official Source

Status

Failed

5/5/2025

Primary Sponsor

Robin Lundstrum

Click for details

Origin

House of Representatives

95th General Assembly (2025 Regular)

AI Summary

  • Reduces the assessed value of real property from 20% to 15% of appraised value for property tax purposes
  • Applies the new 15% assessment rate when property is sold and reassessed by the county assessor after title transfer
  • Amends Arkansas Code § 26-26-1122(a)(1) and § 26-26-1123(a) related to Arkansas Constitution, Amendment 79
  • Effective for assessment years beginning on or after January 1, 2026

Legislative Description

To Amend The Definition Of "assessed Value" For Purposes Of The Assessment Of Property; And To Establish A Method Or Procedure For The Valuation Of Property For Taxation Purposes Under Arkansas Constitution, Article 16, § 5.

Last Action

Died in House Committee at Sine Die adjournment.

5/5/2025

Committee Referrals

City, County and Local Affairs3/31/2025

Full Bill Text

No bill text available