Making the most of property assessors offices in Arkansas will require the office to assess the market value of a property. This value is then multiplied by the tax rate to determine the actual tax that the owner must pay on the property each year. Property tax rates may be set by organizations such as cities, counties or school districts.

Arkansas property assessors use factors like location and size to determine the value of a property. This assessment is usually accurate and requires a property value appeal only on rare occasions. There are three things you need to do when evaluating the property value as determined by the assessor’s office:

1. Obtain the information the property assessors offices in Arkansas uses to make the assessment. You should already know the size and location of the property, but the assessor also will be able to provide the value of other properties in your area.
2. Get professional appraisals so you may compare them to the Arkansas property assessments.
3. Appeal the assessor’s valuation of your property if needed. Arkansas assessors have a specific procedure for accomplishing this.
   

Action Steps
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Learn more about the laws regarding property values in Arkansas

Each state has laws that provide guidelines on the way that property values are assessed. There also may be laws that specify what property tax information is publicly available.

I recommend: The Arkansas Coordination Department offers a summary of the property tax laws in Arkansas. The National Timber Tax website provides a discussion of property taxes as they apply to timberland.

Find out how professional appraisers determine Arkansas property values

Appraisers may use different methods to estimate the value of your property. You will want to ensure the professional appraiser considers the same factors as the property assessor.

I recommend: Tommy Mathieu & Associates describes some possible approaches that the firm might take when assessing a property. Cowden Appraisal & Consulting offers an overview of the company's appraisal process.

Learn how your county performs an Arkansas property assessment

Many counties have online resources available to help you with your property tax assessment. You should be able to locate this information on your county's website, in addition to other information regarding property taxes.

I recommend: The Craighead County Assessor's Office provides an explanation of what you need to know about property assessments. The Sebastian County Assessor answers basic questions on property assessments and also hosts guidelines for assessing personal property.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Check with your Arkansas property assessor to see if you qualify for any exemptions on your property assessment. Exemptions may be recognized for disabled veterans, senior citizens or non-profit organizations. File any appeals to your current tax assessment before the tax deadline. It will be more difficult to obtain a favorable ruling on an appeal after the deadline.

Arkansas property assessments are just that—an assessment of what potential investment property is worth. Arkansas property assessors go out, look at the exteriors of homes and businesses and come up with a dollar amount. The assessments are used to determine property taxes.

There's a lot of information to aid your real estate investments at your Arkansas assessor's office, including records of property value in Arkansas, ownership changes for properties, property descriptions and up-to-date maps of property lines. Assessors also analyze the cost of building a new property, trends in property sales prices and the average expense for renting property. There are many ways that the information obtained through property assessment in Arkansas is useful. Consider the following when dealing with assessors:

1. Determine property values using the information gathered by property assessors in Arkansas.

2. Figure out if Arkansas property assessments represent fair market value for your property.

3. Negotiate with the property assessors' offices in Arkansas to reduce your assessment.

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Become familiar with the law regarding Arkansas land values

Property assessors' offices in Arkansas use a method called ad valorem taxes. Assessment is calculated based on 20% of the property's true market value. The assessor multiples the assessed value times the mileage rate, which is categorized by county.

I recommend: The Arkansas Department of Finance and Administration helps you understand the property tax system and who must pay for what. Bankrate.com explains how property assessments are completed; just click on the "Property" tab for more information.

Examine Arkansas property assessments online to determine neighborhood or business values

Property assessors in Arkansas go around every few years and take photos of homes and businesses. They try to determine Arkansas property values from the outside and make notes and maps of your parcel of land. Even though the information isn't updated annually, you can weigh your property against the assessment of neighboring properties to get an idea of the neighborhood.

I recommend: Use Assessor Links USA and CountyService.net to access property tax information by county. Register with Intelius to search property assessors' offices in Arkansas property records for a fee. Pay your Van Buren County property tax and Craighead County property tax online.

Fight an Arkansas property value assessment with knowledge

Get information from comparable properties in your area and bring it to the property assessors' offices in Arkansas. Have photos if possible. Make an appointment with the Arkansas property assessor's office to see if you can get an informal hearing. If not, fill out a grievance form.

I recommend: The Arkansas Assessment Office website lists information on property assessment in Arkansas for all counties. View property tax records, millage rates and more on Saline County's website.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you're selling your property, get a realtor who knows Arkansas property values and has worked with investors in the past. Your assessment is not necessarily the price you'd sell your property for, so you need an expert to help you price it right.
• •  If you are planning to live in your investment property for a period of time, you should qualify for a $300 credit on property taxes.

Employees who undergo property assessors offices in Arkansas education and training must be able to determine the fair market value of real estate and personal property. Property assessors who work for the government may also assess property taxes by appraising the property and using prescribed tax schedules.

The qualifications necessary to work in property assessors offices of Arkansas primarily depend on the value of the property and manner in which the transaction will be financed. These requirements can be grouped into three general categories:

1. Education. Property assessors in Arkansas usually hold at least a bachelor’s degree, preferably in economics, finance or real estate. A property assessor will also need to complete additional coursework that is specific to property appraisal. This specialized education is usually taken from a community college or professional organization for appraisers.

2. Experience. Property appraisers will also need to acquire on the job training under the supervision of a qualified professional appraiser.

3. Licenses and certifications. Appraisers who perform property appraisals are required by federal law to have a license if the transaction will involve a federal loan of $250,000 or more.

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Complete the courses needed to work in property assessors offices in Arkansas

There are a variety of on-site universities and distance learning classes that teach students to assess Arkansas property values. These institutions should update their curriculum frequently to reflect changes in the state's educational requirements for property appraisers.

I recommend: RCI Career Enhancements is approved to provide real estate appraisal instruction by the Arkansas Appraiser Licensing and Certification Board. ELearners.com offers courses that meet the education requirement for a real estate appraiser license in Arkansas.

Get on-the-job training for Arkansas property assessment

Job training for property appraisers in Arkansas has specific requirements, as laid out by the Arkansas Real Estate Appraisers Board. These requirements stipulate the length of time the training must take, the way in which the mentor must monitor the process, and the type of experience the trainee must acquire.

I recommend: The Arkansas Appraiser and Licensing Board specifies the work experience required to become a licensed appraiser. Rule 151.00.06 of the Arkansas Administrative Rules describes the laws regarding real estate appraisers in Arkansas, including the supervision of trainees.

Become a licensed Arkansas property assessor

Arkansas recognizes four categories of appraisers. A State Licensed Appraiser may generally perform appraisals residential units with a value of less than $1,000,000. A State Certified Residential Appraiser may perform appraisals of all residential properties. A State Certified General may appraise all properties. A State Registered Appraiser may perform appraisals on any type of property that is not involved in a federal transaction.

I recommend: Career Web School provides the licensure requirements for each type of appraiser in Arkansas. Title 17, Subtitle 2, Chapter 14 of the Arkansas Code describes the licensing requirements for Arkansas property appraisers.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Arkansas property assessors must meet the minimum certification and licensing requirements established by the Appraisal Qualifications Board (AQB) of the Appraisal Foundation. However, many states have more stringent licensing requirements than those required by the AQB. For example, a state may require an appraisal license for all appraisers regardless of the transaction value of the property.

Arkansas property assessors offices laws and regulations deal with property taxes that are based on the estimated value of real property. The fair market value is the most common standard of value used in Arkansas, although there are other standards, such as the foreclosure value or distressed sale value. A property tax exemption is applied by reducing a property's assessed value by a specified amount before calculating the property tax.

There are a variety of information sources regarding the laws on Arkansas property values. These sources include the three following categories:

1. The Arkansas state government. These sources offer official information, including state laws that deal with property assessors in Arkansas.
2. County and municipal governments in Arkansas. These sources provide the rules and procedures for a specific property assessors office in Arkansas.
3. Arkansas law firms that include property law as one of their areas of practice. These firms may provide information on specific issues of property tax laws in Arkansas.
   

Action Steps
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Examine the laws that control assessors of property values in Arkansas

The state government of Arkansas will have specific laws for property tax assessors. Private organizations also provide summaries and general information on property tax assessor laws in Arkansas.

I recommend: The Arkansas Assessment Coordination Department provides the goals of The Arkansas Property Taxpayer Bill of Rights, which addresses property assessment in Arkansas. The Arkansas General Assembly provides the assessment of property taxes in Title 26, Subtitle 3, Chapter 26, Subchapter 11 of the Arkansas Code.

Study the procedures for conducting Arkansas property assessment in a particular jurisdiction

Local governments have specific procedures for property assessments and also may offer an Arkansas property tax search. A complete list of Arkansas property tax records may also be available.

I recommend: The Sebastian County Assessor Office summarizes the legislative duties of assessors under Arkansas law. The Craighead County Assessor's Office provides the legal requirements of the assessors office in Arkansas.

Review Arkansas property assessors laws from law firms in Arkansas

Arkansas lawyers who specialize in property law frequently offer summaries on the property taxes that are assessed in Arkansas. They also may write articles on specific issues regarding property taxes in Arkansas.

I recommend: Quattlebaum, Grooms, Tull & Burrow provides articles on property tax law in Arkansas such as An Overview of Arkansas Tax Increment Financing District Law. Gill, Elrod, Ragon, Owen & Sherman publishes documents on property tax law in Arkansas, such as Six Laws of Keeping What You Got.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Many laws on Arkansas property assessments are the result of the Financial Institutions Reform and Recovery and Enforcement Act (FIRREA). The savings and loan crisis of the late 80s resulted in the passage of the FIRREA in 1989, which required the adoption of property appraisal standards in the United States.