Property tax in Arkansas: rates, caps and homestead credit

How is a home taxed?

The county assessor lists the property and an appraiser sets its market value as of January 1. The tax is then:

1. Market value × 20% = assessed value (ACD FAQ, citing Ark. Code Ann. § 26-26-303).
2. Assessed value × millage rate = tax. One mill is one-tenth of a cent per dollar of assessed value.
3. Minus the homestead credit, if you qualify.

Counties must reappraise every three or five years, depending on how fast values are growing (ACD, Ark. Code Ann. § 26-26-1902). The City of Little Rock’s 2025 levy ordinance notes that Pulaski County completed a county-wide reappraisal in 2022.

What is the rate in Little Rock?

Millage is the sum of the county, city and school district rates, so it depends on where the home sits. Three figures we read:

The 70.5 total comes from a city document that is not dated. The school and city lines above are current; the county’s share (the remainder, about 9 mills on that table) is not confirmed against a county levy ordinance. Your bill and your parcel’s taxing districts are what count: check the Pulaski County Treasurer. Because taxes follow millage, they can rise even when your assessed value does not.

What does the homestead credit save?

The homestead tax credit takes a fixed amount off your bill. ACD says homeowners may receive up to $500 per year, and up to $600 starting with the 2026 tax bills. (ACD’s 2023 FAQ still says $375; the current ACD page controls.) Conditions:

• The home is your principal place of residence, and you are the record owner, a buyer under a recorded sales contract or hold a recorded life estate.
• You can claim one homestead credit per year.
• You apply through the county assessor. Pulaski County’s assessor says applications must be in by October 15 to receive the credit for that year.

Caps on increases, and the freeze for age 65 or disability

Amendment 79 limits how fast the taxable value can rise after a reappraisal (ACD):

Caps do not apply to new construction, newly discovered property or substantial improvements. Owners 65 or older, or disabled, can ask the assessor to freeze the taxable assessed value of their homestead. A buyer who is 65 or older or disabled can get the freeze from the next assessment date after purchase, but it does not pass to a later owner. The freeze does not stop millage changes.

Example: a $200,000 home in the Little Rock School District

This is an example, not a quote. It uses the city’s published 70.5 mills.

If you buy, ask what the seller’s bill reflects: a seller’s age-65 or disability freeze does not carry over to you, and you must apply for your own homestead credit, so your first bill can differ. See Arkansas closing costs for how taxes are prorated, and escrow accounts for how lenders collect them.

Calendar and appeals

• January 1: valuation date.
• First business day of March to October 15: taxes for the prior assessment year are payable. After October 15 the collector adds a 10% penalty (ACD FAQ, Ark. Code Ann. § 26-36-202). If October 15 falls on a weekend or holiday, the next business day applies.
• Appeals: an assessor must give notice and a chance to appeal when value increases. Start with the assessor; errors in property details can often be fixed without a formal appeal. For a formal dispute, go to the County Board of Equalization. The last day to schedule a hearing is the third Monday in August (ACD).

See also Arkansas home prices and Little Rock.