Make Use of the Arkansas Property Tax Exemption for Seniors

Reducing Property Taxes Make Use of the Arkansas Property Tax Exemption for Seniors

Get the Arkansas Property Tax Exemption for Seniors in No Time

If you own property in Arkansas, you should do research on property tax exemptions you qualify for. You should not pay high property taxes if you are eligible for Arkansas property tax exemption for seniors. 

We understand how challenging it can be to keep track of all legislation changes to stay in the loop about the tax system. That is why DoNotPay gathers relevant data and provides direct and simple guidelines for you to reduce your property taxes smoothly. 

Arkansas Property Tax Exemption for Seniors

If you are a senior citizen owning a property and living in Arkansas, you may qualify for the following property tax exemptions:

  • Age 65 or Disabled Homeowner Property Tax Relief
  • Homestead Tax Credit

DoNotPay provides information on all senior citizen property tax exemptions and the two above-mentioned options.

Age 65 or Disabled Homeowner Property Tax Relief

You qualify for this property tax relief if you are eligible for the homestead tax credit and are:

  1. 65 and older or
  2. Disabled

If you meet these criteria, you should know that the taxable assessed value of your homestead property can be frozen as soon as you turn 65 or as of the date of your disability. In case you are older than 65 or disabled and decide to buy a homestead property, the taxable assessed value of this property gets frozen at the date of purchase. 

To get this property tax relief, you need to apply to your local county assessor’s office. 

Improvements you make to your property might lead to an increase in your homestead’s assessed value. This mostly applies to substantial improvements adding 25% to the value of the property and include:

  • Reconstruction
  • Renovation
  • Refurbishment

The amount of property taxes on your homestead property can increase or decrease if your local taxing district introduces millage rate changes.

Arkansas Property Tax Exemptions—Homestead Tax Credit

To qualify for the homestead tax credit in Arkansas, you need to be:

  1. The owner of the record
  2. The buyer under a recorded sales agreement
  3. The person occupying the property as their primary residence 

If you meet the above-listed requirements, you can apply for this credit regardless of your age. 

Apart from this, you may also be eligible for the homestead tax credit if you:

  • Live at a retirement center or nursing home—if you are still the owner of the property
  • Have deeded your home to another person—in case you continue to live in this property as your principal residence

If you own a home in Arkansas, you can get a homestead property tax credit of up to $375 annually. This credit applies to the homestead or the property you use as your principal place of residence.

This property may be owned by a:

If you would like to get the homestead tax credit, you:

  1. Need to apply with your county assessor’s office
  2. Can claim one credit every year

You can turn to the county assessor’s office or use DoNotPay if you are not sure whether you are eligible for the homestead tax credit. DoNotPay can help you determine:

We also provide a list of states with low property taxes in case you decide to sell your property in Arkansas and move. 

Arkansas Property Tax Exemption—Amendment 79

Amendment 79 to the Arkansas Constitution—also known as the Property Tax Relief amendment—provides limitations on the increase of the property’s taxable value during county-wide reappraisals.

According to Amendment 79, the taxable value cannot exceed:

Homestead Property LimitLimit for Other Properties (e.g., commercial, vacant, or agricultural)
5% a year until the property’s full assessed value is reached10% a year until the property’s full assessed value is reached

These 5% and 10% caps do not apply to:

  1. New construction 
  2. Newly discovered properties
  3. Substantial improvements to a property

Be careful not to miss the property tax deadline, which is October 15 in Arkansas. If you are late, you will need to pay fees and penalties. 

Amendment 79—Arkansas Property Tax Exemption for Seniors

Amendment 79 freezes the assessed value of a homestead property whose owner is:

  • A disabled person
  • A person aged 65 or older

This freeze can be waived in case of substantial improvements to your homestead. 

Use DoNotPay’s Straightforward Guide to Property Tax Exemptions and Appeals

DoNotPay can assist you if you are not sure:

You can get your personalized guide by completing the following steps:

  1. Open DoNotPay in your web browser
  2. Choose the Property Tax feature
  3. Answer a few questions about you and your property

In a couple of minutes, you will receive a file with all relevant instructions. 

Our app has an extensive database on property taxes in numerous states. We will enter the information you provide into our database to generate a guide tailored to your specific situation, location, and property. 

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