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26-80-405. Interrelationship between Amendments 59 and 74.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-80-405. Interrelationship between Amendments 59 and 74.
(a) Pursuant to the application of Arkansas Constitution, Amendment 74, to the rollback provisions of Arkansas Constitution, Amendment 59, for millage rates levied by the various school districts within the county, the multiplier that is used to reduce the millage which is determined in item number six (6) of the Base Year Millage Rollback Computation and Certification Form under § 26-26-404(d) shall not be used in item number seven (7) of the Base Year Millage Rollback Computation and Certification Form under § 26-26-404(d) to calculate the rollback of the uniform rate of tax.
(b) Under § 26-26-404(d), a multiplier of one (1) shall be applied to the uniform rate of tax, and the calculated multiplier shall apply to all other millage above the uniform rate of tax.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-80-405
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:26-80-405
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c60c8a3718b88cb9268dd31ce2bbfa3afca95ee52c6ba425f7809a6db83a1218
Source location: content.xml paragraph 36238
Stored source content
26-80-405. Interrelationship between Amendments 59 and 74.
(a) Pursuant to the application of Arkansas Constitution, Amendment 74, to the rollback provisions of Arkansas Constitution, Amendment 59, for millage rates levied by the various school districts within the county, the multiplier that is used to reduce the millage which is determined in item number six (6) of the Base Year Millage Rollback Computation and Certification Form under § 26-26-404(d) shall not be used in item number seven (7) of the Base Year Millage Rollback Computation and Certification Form under § 26-26-404(d) to calculate the rollback of the uniform rate of tax.
(b) Under § 26-26-404(d), a multiplier of one (1) shall be applied to the uniform rate of tax, and the calculated multiplier shall apply to all other millage above the uniform rate of tax.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-404. Computation and certification form.
(a)(1) The governing body of each taxing unit in the base year of countywide reassessment shall complete the following form and return the form to the county clerk on or before the third Monday in November of the base year, using certified data provided by the county clerk as described in § 26-26-402.
(2) The form shall be signed by the officers of the governing body of each taxing unit.
(b)(1) If newly discovered and new construction properties are less than a ten percent (10%) increase in assessments, the governing body of each taxing unit may elect to increase the rolled back millage an amount to allow no more than an overall ten percent (10%) increase in taxes.
(2) If the newly discovered and new construction property list is ten percent (10%) or more above reassessment total, the total amount is allowed; however, no increase in the rolled back millage shall be considered.
(c) Each tax source or millage levy shall be computed and rounded up to the nearest one-tenth (1/10) mill.
(d) The county clerk shall file and record the completed forms required in § 26-26-403 and this section and shall forward a copy of the forms to the Assessment Coordination Division by December 1 of the base year.
Base Year Millage Rollback Computation and Certification Form COUNTY: TAXING UNIT: DATE: 1. Compute the following to discover total of reassessed property: a. Total base year assessments b. Less newly discovered, new construction properties c. Equals total reassessed properties 2. Compute the following to find the zero-increase millage adjustment: a. Base-year taxes certified for collection b. Divided by reassessed properties c. Equals zero-increase millage 3. Compute the following to find the percentage
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-404
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 26-26-404. This identifies an authority to review, not proof of applicability.