Browse Arkansas Code titles and sections
19-5-1096. Arkansas Real Property Reappraisal Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-1096. Arkansas Real Property Reappraisal Fund.
(a)(1) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Arkansas Real Property Reappraisal Fund”.
(2)(A) The proceeds of the fund shall be used to pay counties and professional reappraisal companies for the reappraisal of real property required by § 26-26-1901 et seq. and shall be in lieu of real property reappraisal funding by the local taxing units in each county of this state.
(B) There shall be no deduction from the proceeds of the fund to pay any other fees or expenses except as provided in § 26-26-1901 et seq.
(b) For cause and after an opportunity for hearing, the Director of the Assessment Coordination Division may suspend or terminate the contract of any appraisal firm or county.
(c)(1) The fund proceeds shall be distributed monthly, except when there is a determination by the Assessment Coordination Division that proper reappraisal procedures established by the division are not being followed.
(2)(A)(i) Upon a finding by the division that proper reappraisal procedures are not being followed, the county assessor or contractor shall be notified that the reappraisal is out of compliance with accepted guidelines established in § 26-26-1901 et seq. and rules enacted pursuant thereto.
(ii) The division shall notify the county assessor or contractor in writing that the assessor or contractor has thirty (30) days in which to bring the reappraisal into compliance.
(B) If there is a further finding that proper reappraisal procedures are not being followed, the contract shall be promptly terminated and the division shall negotiate another contract and management plan for the completion of the reappraisal pr
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-1096
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:19-5-1096
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: aed09de90cd1f3f1fc90c094f2ae6cec93e44f3c1c33505e77ce35019ad84eb0
Source location: content.xml paragraph 8396
Stored source content
19-5-1096. Arkansas Real Property Reappraisal Fund.
(a)(1) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Arkansas Real Property Reappraisal Fund”.
(2)(A) The proceeds of the fund shall be used to pay counties and professional reappraisal companies for the reappraisal of real property required by § 26-26-1901 et seq. and shall be in lieu of real property reappraisal funding by the local taxing units in each county of this state.
(B) There shall be no deduction from the proceeds of the fund to pay any other fees or expenses except as provided in § 26-26-1901 et seq.
(b) For cause and after an opportunity for hearing, the Director of the Assessment Coordination Division may suspend or terminate the contract of any appraisal firm or county.
(c)(1) The fund proceeds shall be distributed monthly, except when there is a determination by the Assessment Coordination Division that proper reappraisal procedures established by the division are not being followed.
(2)(A)(i) Upon a finding by the division that proper reappraisal procedures are not being followed, the county assessor or contractor shall be notified that the reappraisal is out of compliance with accepted guidelines established in § 26-26-1901 et seq. and rules enacted pursuant thereto.
(ii) The division shall notify the county assessor or contractor in writing that the assessor or contractor has thirty (30) days in which to bring the reappraisal into compliance.
(B) If there is a further finding that proper reappraisal procedures are not being followed, the contract shall be promptly terminated and the division shall negotiate another contract and management plan for the completion of the reappraisal project.
(d) Based on its expertise and the criteria and requirements set forth in § 26-26-1901 et seq., the division shall establish by rule the findings that indicate that proper reappraisal procedures are not being followed.
(e) At the end of each countywide reappraisal, the division shall issue a report of the status of the county.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-1901. Definitions.
As used in this subchapter:
(1) “Countywide reappraisal” means a cyclical review program begun pursuant to the terms of this subchapter;
(2) “Division” means the Assessment Coordination Division; and
(3) “Reappraisal” means the estimating of the value of all taxable real property within the county as of a given date within a given time frame.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-1901
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 26-26-1901. This identifies an authority to review, not proof of applicability.