Guide to Property Assessors Offices - Arkansas

Use an Arkansas property assessor's information to determine investment property value
By Kelly Shetsky

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.

Action Steps

The best contacts and resources to help you get it done

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.