26-26-1605. Annual assessment meeting.

Arkansas Code — all titles (historical 2020) · legal_authorities

26-26-1605. Annual assessment meeting.

26-26-1605. Annual assessment meeting. (a)(1) The Tax Division of the Arkansas Public Service Commission shall meet the first Monday in March of each year for the purpose of assessing the property which it is required to assess. (2) Before entering upon the discharge of his or her duties, each commissioner shall subscribe to an oath that he or she will well and truly value and assess the property required to be assessed by the division. The oath shall be recorded at length upon a book used by the division for recording the assessments. (b) The division shall examine the returns filed of all persons, firms, companies, copartnerships, associations, and corporations required by law to make them and, also, such information as it may have obtained in addition thereto, and shall determine the valuation of the items of property which it is required to value, and shall assess the property at its true and full market or actual value, or such percentage thereof as the division shall have so adopted and ordered. (c) In valuing the property of persons, firms, companies, copartnerships, associations, and corporations, the division shall take into consideration the value of all the property of the company as a unit, whether all or only a part of it is within this state.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-1605

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.