Arkansas Property Tax Law Changes 2026: What Homeowners Need to Know

Updated March 2026

Key Takeaway

Arkansas caps homestead assessment increases at 5% per year (Amendment 79, 2000) and freezes assessments entirely for homeowners 65+ regardless of income. At a 20% assessment ratio and 0.63% effective rate, Arkansas has among the lowest property tax burdens in the country.

Arkansas Property Tax Snapshot: 2026

Median home value: $127,800
Average annual tax: $805
Effective tax rate: 0.63%
Assessment ratio: 20% of market value
Reassessment cycle: annual

Amendment 79: The 5% Homestead Cap + Senior Freeze

Arkansas Amendment 79 (2000) provides two powerful protections:

5% annual cap: Homestead property assessments cannot increase more than 5% per year, regardless of market appreciation
10% cap for non-homestead: All other property is capped at 10% annual increases
Senior freeze at 65: Once you turn 65, your homestead assessment is frozen at the current level -- no increases at all, with no income requirement

The senior freeze is one of the most generous in the nation because it has no income limit. Every homeowner 65+ qualifies.

20% Assessment Ratio

Arkansas assesses residential property at 20% of appraised value. A $200,000 home has an assessed value of $40,000. Tax rates (millage) are applied to this 20% figure. When reviewing your assessment notice, verify the appraised value (market value estimate) is accurate -- the 20% ratio is applied automatically.

Homestead Tax Credit

Arkansas provides a homestead tax credit that reduces the property tax on your first $350 of assessment (equivalent to the first $1,750 of appraised value). This saves approximately $30-$50/year depending on local millage rates. It must be applied for.

Disabled Veteran Exemption

Veterans with a 100% service-connected disability receive a complete property tax exemption on their homestead in Arkansas. Partially disabled veterans receive partial exemptions based on disability percentage.

Appeal Deadline: Third Monday in August

Arkansas has a specific, statewide appeal deadline: the Third Monday in August. File with your County Equalization Board. This is earlier than many states, so don't wait for fall to review your assessment. The county assessor must provide your appraised value notice before this date.

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Arkansas Appeal Process

Filing deadline: Third Monday in August
File with: County Equalization Board
Evidence needed: Comparable sales, property condition photos, record corrections

2026 Action Checklist

Review your assessment notice when it arrives
Verify all exemptions are applied (homestead, senior, veteran)
Compare your assessed value to recent comparable sales
File your appeal by Third Monday in August if over-assessed
Check your property record for errors (square footage, features, classification)

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