Arkansas residents reap the benefits of a lower cost of living and affordable property taxes. If your annual income in Arkansas is $50,000, to enjoy the same lifestyle elsewhere, you will need an approximate income of…
*Figures gathered from www.Money.CNN.com, and used Little Rock as a basis.
Property taxes are assessed at 20% of appraised value. For example: Taxes in the Jessieville School District (Garland County) are assessed at 42.3 mills per $1,000 (as of July 2013) which will make annual property taxes approximately $846 for a $100,000 home.
Taxes in the Fountain Lake School District (Garland County) are assessed at 38.40 mills which will make annual property taxes approximately $768 for a $100,000 home. Residents living in Saline County (also Fountain Lake School District) will pay approximately $890 in property taxes for a $100,000 home.
As a resident, you can take a $350 homestead tax credit if your HSV home is your primary residence.