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AR HJR1012
Joint Resolution
Status
5/5/2025
Primary Sponsor
Scott Richardson
Click for details
AI Summary
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Fixes assessed value of real property at the most recent assessment on or before December 31, 2026, eliminating routine county-wide reappraisals that currently increase property tax assessments
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Reassessment triggers limited to four events: property sale/transfer/conveyance, new construction, substantial improvements, or change in property use
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Effective date of January 1, 2027, for assessment years going forward
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Repeals Arkansas Constitution Article 16, § 14, which governs tax rate rollback procedures following reappraisals
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Requires voter approval at the next general election for Representatives and Senators before becoming part of the Arkansas Constitution
Legislative Description
An Amendment To The Arkansas Constitution To Repeal Provisions Concerning The Reappraisal And Reassessment Of Real Property; And To Amend Arkansas Constitution, Amendment 79, Concerning Real Property Taxes.
Last Action
Died in House Committee at Sine Die adjournment.
5/5/2025