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26-26-1125. Guidelines for assessing property — Noncompliance. [Effective May 1, 2021.]
Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-1125. Guidelines for assessing property — Noncompliance. [Effective May 1, 2021.]
(a) The Assessment Coordination Division shall:
(1) Establish mandatory guidelines for county assessors to follow in:
(A) Identifying property that is exempt from ad valorem taxation; and
(B) Assessing business inventory;
(2) Adopt rules necessary for:
(A) The general guidance and assistance of county assessors in identifying exempt property and assessing business inventory; and
(B) Determining when a county is noncompliant with the rules established by the division under this section;
(3) Confer with and assist county assessors in identifying exempt property and assessing business inventory to ensure that all assessments of property are just and uniform throughout the state;
(4) Prescribe any forms necessary to assist county assessors in uniformly identifying exempt property and assessing business inventory;
(5) Monitor each county's compliance with the rules established by the division under this section; and
(6) As soon as is practicable, notify immediately the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, when a county is determined to be noncompliant with the rules established by the division under this section.
(b) A county assessor shall:
(1) Assess property in accordance with the rules adopted by the division; and
(2) Use only a form that is prescribed or approved by the division to identify exempt property or assess business inventory.
(c) Upon receiving notification under subdivision (a)(6) of this section, the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, may recommend to the General Assembly that a noncompliant county's funds under § 26-26-310(b)(2)(C) t
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-1125
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.
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Stable record: arkansas_code:legal_authorities:26-26-1125
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 108cb0b3a47fec24ecf29bcf1a2114889e62b10ad4f5a2ed795fd3cfa8dde300
Source location: content.xml paragraph 5920
Stored source content
26-26-1125. Guidelines for assessing property — Noncompliance. [Effective May 1, 2021.]
(a) The Assessment Coordination Division shall:
(1) Establish mandatory guidelines for county assessors to follow in:
(A) Identifying property that is exempt from ad valorem taxation; and
(B) Assessing business inventory;
(2) Adopt rules necessary for:
(A) The general guidance and assistance of county assessors in identifying exempt property and assessing business inventory; and
(B) Determining when a county is noncompliant with the rules established by the division under this section;
(3) Confer with and assist county assessors in identifying exempt property and assessing business inventory to ensure that all assessments of property are just and uniform throughout the state;
(4) Prescribe any forms necessary to assist county assessors in uniformly identifying exempt property and assessing business inventory;
(5) Monitor each county's compliance with the rules established by the division under this section; and
(6) As soon as is practicable, notify immediately the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, when a county is determined to be noncompliant with the rules established by the division under this section.
(b) A county assessor shall:
(1) Assess property in accordance with the rules adopted by the division; and
(2) Use only a form that is prescribed or approved by the division to identify exempt property or assess business inventory.
(c) Upon receiving notification under subdivision (a)(6) of this section, the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, may recommend to the General Assembly that a noncompliant county's funds under § 26-26-310(b)(2)(C) that are to be allocated to the county assessor be reduced or withheld until the county becomes compliant under this section.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-310. Certification of amount of property tax reduction.
(a)(1) On or before March 31 of each year, the county collector of each county shall certify to the Chief Fiscal Officer of the State the amount of the real property tax reduction provided in § 26-26-1118.
(2)(A) After receipt of the certification from the county collectors, the Chief Fiscal Officer of the State shall determine the proportionate share of the total statewide reduction attributable to each county.
(B)(i) At the end of each month, the Chief Fiscal Officer of the State shall determine the balance in the Property Tax Relief Trust Fund and certify it to the Treasurer of State.
(ii) The Treasurer of State shall make distributions from the Property Tax Relief Trust Fund to each county treasurer in accordance with the county's proportionate share of the total statewide property tax reduction for that calendar year resulting from the provisions of § 26-26-1118.
(iii)(a) Effective January 1, 2006, the Treasurer of State shall make a monthly distribution from the Property Tax Relief Trust Fund to each county treasurer.
(b) The distributions for January, February, and March shall be in accordance with the county's proportionate share of the total statewide property tax reduction as of the final county certification of the previous year.
(c) Beginning in April of each year, the distribution from the Property Tax Relief Trust Fund to each county treasurer shall be in accordance with the county's proportionate share of the total statewide property tax reduction for that calendar year under § 26-26-1118.
(C)(i) If the Chief Fiscal Officer of the State has not received all of the certifications from the county collectors, then the distribution of the Property Tax Relief Trust Fund shall be as f
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-310
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 26-26-310. This identifies an authority to review, not proof of applicability.