What is considered personal property in Arkansas?

Asked by: Prof. Alyce Kautzer  |  Last update: February 19, 2022
Score: 4.4/5 (37 votes)

Personal Property - Under Arkansas law, A.C.A. § 26-1-101, personal property is defined as “Every tangible thing being the subject of ownership, and not forming a part of any parcel of real property as defined.”

What is included in personal property tax Arkansas?

Arkansans are required to pay personal property taxes every year. Personal property taxes are applied to items such as vehicles, trailers, motorcyles, etc. and are paid to your county collector. Most counties provide online property tax payments, which you can find by visiting ar.gov/tax.

How do I access personal property in Arkansas?

You can assess personal property in person, by phone, by mail or by fax. Assessments by telephone will not be taken for the initial listing of personal property being assessed to an individual who has no previous assessment on record with the assessor (first-time assessments and new residents, for example).

When and why do you assess personal property tax in Arkansas?

Arkansas law requires that all property owners assess their personal and commercial property between January 1st and May 31st each year. Statutes place the assessment level at 20 percent (20%) of current market value.

How does Arkansas personal property assessment work?

Local millage rates determine the amount you pay per $1,000 of assessed value. ... Each year, every Arkansas taxpayer must report personal property owned to the county assessor for assessment of ad valorem (property) taxes between January 1 and May 31 (Arkansas Code 26-26-1408).

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Can you assess your personal property online in Arkansas?

You can assess online by choosing the icon below or you may assess over the phone by calling 501-340-6181 -- 7:00 am to 6:00 pm M-F.

How do you find out who owns property in Arkansas?

ARCountyData.com is the fastest and easiest way to access Arkansas county property information. From the convenience of your office or home you can research property sales histories, commercial and residential building descriptions, and legal descriptions.

What is a redemption deed in Arkansas?

What is a redemption deed in Arkansas? A redemption deed is an evidence of the payment of taxes. A redemption deed can be obtained upon payment of taxes, interest, penalty, and costs. One who redeems land from a tax sale obtains a redemption deed. Arkansas Statute on redemption deed: 26-37-303.

Can I assess my car online?

Assess Your Vehicle

Look up your county assessor's office. Most counties offer online assessment. You must assess between January 1 and May 31 each year.

How is assessed value determined in Arkansas?

Assessed value is equal to 20% of the appraised value of a property. For example, a home that has a market value of $100,000 would have an assessed value of $20,000. So tax rates only apply to that $20,000. One important note about assessed value in Arkansas is that it cannot increase by more than 5% in any one year.

What is included in property assessment?

It includes land, buildings occupying the land, and the rights to use and enjoy the land. Real property is the focal point of real estate, which deals with transactions (e.g., buying, selling, renting, and managing) involving land and buildings used for residential, commercial, and agricultural use.

How much is vehicle property tax in Arkansas?

The assessment is 20 percent applied to the "true market value" of real property and to the usual selling price of personal property. The tax due is calculated as the assessed value times the local mileage rate.

What is needed to assess car in Arkansas?

Proof from your county assessor showing that the vehicle has been assessed or listed for assessment for the current year. Proof that no personal property taxes are owed. Acceptable proof is either a statement from your county tax collector, or certification of "FIRST ASSESSMENT" stamped on your assessment papers.

How much does it cost to assess a car in Arkansas?

The following are registration fees based on your vehicle: 3,000 pounds and under $17. 3,001 to 4,500 pounds $25. 4,501 pounds and over $30.

Do you have to assess a house?

Most states require a residential property to be assessed at market value. Typically, the assessment is lower than either the market value or appraised value. Assessors may conclude that market and appraisal values don't accurately represent the home, so they use an assessment rate to calculate the assessed value.

How do I do a title search in Arkansas?

In Arkansas, the county clerks have a web-based system where they charge a fee for the title search. You also have the option of going to the County Clerk's Office and doing a manual search of the property.

Can I assess online in Pope county Arkansas?

Did you know that you can assess your individual personal property here on the web from the comfort of your home? In our continued effort to better serve the taxpayers, you can also now assess on the go using your data phone.

What happens if you don't pay your personal property taxes in Arkansas?

In Arkansas, if you don't pay your property taxes, your home will be forfeited to the state one year following the date the taxes were due, October 15. The county collector then holds on to your tax-delinquent home for one year after the date of the delinquency. ... The Commissioner can then sell your home to a new owner.

Do you have to pay taxes on your car every year in Arkansas?

Drivers in Arkansas must renew their vehicle's registration every year. ... To renew the registration, a driver will also need to have paid all personal property taxes on the vehicle from previous years and have proof of that via a personal property tax receipt.

Do you pay personal property tax on leased vehicles in Arkansas?

tax, and sales tax must be collected on the full consideration paid for the lease of the vehicle. By taxing the full amount of consideration paid, the Revenue Division is not attempting to collect a tax on the personal property taxes, but is collecting a tax on the total consideration paid for the lease of the vehicle.

Do you have to pay sales tax on a used car in Arkansas?

The sales tax sits at 6.5% for used vehicles. Arkansans do not have to pay the sales tax on used vehicles that cost fewer than $4,000.

Can you pay sales tax on a car with a credit card in Arkansas?

No. We do not currently accept credit cards. The Commission prefers licensees pay by check, but will accept cash with proper receipt provider. Do you license used motor vehicle dealers?

How long do you have to pay sales tax on a car in Arkansas?

You must register the vehicle within 30 days of the purchase and pay for state sales tax at the time of registration.

How many years can you go without paying property taxes in Arkansas?

By law, if real estate taxes are not paid for two years, it will be certified to the Arkansas Commissioner of State Lands to be sold for taxes.

What is the redemption period in Arkansas?

The home sold through a judicial foreclosure sale can be redeemed by the homeowner within 12 months after the sale.