Arkansas Administrative Code

26 CAR § 213-804. Uniform Notice of Newly Discovered or Newly Constructed Property. (a) If the assessor becomes aware of newly discovered or newly constructed property in a nonreappraisal year and the resulting increase in market value of the parcel caused by the newly discovered…

26 CAR § 213-805. Homestead Credit Application/Sales Verification. (a) There is hereby established a Homestead Credit Application/Sales Verification form. (b) The form is to be used by property owners to: (1) Apply for benefits under the provisions of Arkansas Constitution, Amend…

26 CAR § 213-901. Requirements for CAMA software providers. The Assessment Coordination Division shall require computer-assisted mass appraisal software providers to comply with requirements set forth in the final specifications for computer-assisted mass appraisal software.…

26 CAR § 213-902. CAMA standards and system compliance certification. (a) The Assessment Coordination Division will be responsible for providing uniform specifications (standards) for computer-assisted mass appraisal (CAMA) software systems to be operated within the State of Arka…

26 CAR § 213-903. Creation and purpose of the Arkansas CAMA Compliance and Certification Advisory Board. (a) There is hereby created the Arkansas CAMA Compliance and Certification Advisory Board whose purpose it shall be to advise and assist the Director of the Assessment Coordin…

26 CAR § 213-904. Appointment and terms of service of members of the Arkansas CAMA Compliance and Certification Advisory Board. (a) The Arkansas CAMA Compliance and Certification Advisory Board shall be made up of persons known to have knowledge, experience, and expertise in the:…

26 CAR § 213-905. Organization and meetings of the board. (a)(1) The initial meeting of the Arkansas CAMA Compliance and Certification Advisory Board shall be held as soon as practicable following the appointment of its initial members. (2) Thereafter, the board will meet annuall…

26 CAR § 213-906. Testing of CAMA systems. (a)(1) Beginning on or about the second Tuesday in September in each year, at the offices of the Assessment Coordination Division, the Arkansas CAMA Compliance and Certification Advisory Board will test: (A) All CAMA systems operating in…

26 CAR § 213-907. Use problems. (a) CAMA system users who experience problems with their system that persist after notification to the provider for a reasonable time may contact the Assessment Coordination Division or the Arkansas CAMA Compliance and Certification Advisory Board …

26 CAR § 213-908. Penalties in the event of noncompliance. (a) In the event a CAMA system fails to achieve the score required on a particular exercise, the Director of the Assessment Coordination Division will notify the system provider that the system will not be certified and c…

26 CAR § 214-101. Uniform reporting of assessments. (a) On or before March 15 of each year the preparer of the tax books for each county shall provide a copy of the Abstract of Assessments to the Assessment Coordination Division. (b) Said copy of Abstract of Assessments shall: (1…

26 CAR § 214-102. Uniform reporting of delinquent taxes. (a)(1) If not included in the above Abstract of Assessments as defined in 26 CAR § 214-101, the following items relating to real property assessments shall be added. (2) Previous year delinquent real estate assessments. (b)…

26 CAR § 214-103. Responsibilities of those providing information. (a) The county assessor, county collector of taxes, the county clerk, the county treasurer, and any other county official having possession of the information specified in 26 CAR §§ 214-101 and 214-102 shall turn …

26 CAR § 230-101. Introduction. (a) Pursuant to Arkansas Code § 26-26-1601 et seq., the property owned and/or controlled by a telephone company in Arkansas is to be assessed for ad valorem tax purposes by the Tax Division of the Arkansas Public Service Commission. (b)(1) The divi…

26 CAR § 230-102. Methods used in determining market value — Cost approach. (a)(1) The cost approach estimates market value by calculating original cost less depreciation of the property. (2) Reconstruction cost new less depreciation, replacement cost less depreciation, or reprod…

26 CAR § 230-103. Methods used in determining market value — Stock and debt approach. (a)(1) The stock and debt estimate of market value is calculated by summing the market value of all stock and long-term debt securities. (2) Accumulated deferred federal income taxes and investm…

26 CAR § 230-104. Methods used in determining market value — Income capitalization approach. (a) The income approach to estimate market value is based upon two (2) factors: (1) The income stream; and (2) The capitalization rate, yield or direct. (b) Determination of the income st…

26 CAR § 230-105. Overall capitalization rates. (a) The overall capitalization rate in yield capitalization is a weighted average of the product of the firm’s individual costs of capital and its market value proportion in the capital structure. (b) The overall capitalization rate…

26 CAR § 230-106. Correlation of value — Weighting percentages. (a)(1) The actual weighting percentages for each approach for the first three (3) years of implementation of this part shall be as follows: Year 1Year 2Year 3 Cost20%30%40% Stock and Debt30%20%10% Income Capitalizati…

26 CAR § 230-107. Administrative Adjustment. (a)(1) During the first three (3) years of implementation of this part, an Administrative Adjustment shall be utilized by the Tax Division of the Arkansas Public Service Commission in order to arrive at the Final System Value. (2) The …

26 CAR § 230-108. Allocation. A state allocation estimate should be derived by consideration of the Arkansas-to-system ratios of: (1) Gross plant; (2) Net plant; (3) Gross revenues; and (4) Net operating income.…

26 CAR § 230-109. Adjustment to correlation value — Leased property. (a) After the correlated value has been computed, an adjustment will be made for the value of leased property. (b) Criteria for the valuing of leased property to be included in this adjustment are as follows: (1…

26 CAR § 230-110. Information filing requirement. (a) Information and data necessary and relevant to implementation of this part is to be filed in accordance with Arkansas Code § 26-26-1601 et seq. as a portion of the company’s Annual Report to the Tax Division of the Arkansas Pu…

26 CAR § 240-101. Purpose. (a) This part is promulgated to implement and clarify Acts 1987, No. 977. (b) All persons should read this part in its entirety because the meaning of the provisions of one section may depend upon the provisions contained in another section.…

26 CAR § 240-102. Definitions. As used in this part: (1) "Bill of lading" means the documentation detailed in Section 3(A) of Acts 1987, No. 977, and shall include that documentation provided by loading terminals, or manifests prepared by the distributor/supplier who loads at his…

26 CAR § 240-103. Points of law. (a) Under the provisions of Acts 1987, No. 977, every person who imports and/or exports fuel or fuels into or out of the State of Arkansas, respectively, must be licensed by the Department of Finance and Administration’s Motor Fuel Tax Section as …

26 CAR § 240-104. Administrative procedures. (a) Upon demand, licensed distributors and/or suppliers may obtain a supply of prenumbered triplicate copy permits for use as required under Acts 1987, No. 977, at no cost to said distributor and/or supplier. (b) Transporters registere…

26 CAR § 250-101. Purpose. (a) Arkansas’s historic sites and districts provide the state with significant benefits in the areas of: (1) Community and economic development; (2) Tourism; (3) Civic pride; and (4) An overall sense of place for Arkansas. (b) Yet Arkansas continues to …

26 CAR § 250-102. Legislation. (a) The Arkansas Historic Rehabilitation Income Tax Credit Act, Arkansas Code § 26-51-2201 et seq., (Acts 2009, No. 498) allows a credit against the tax imposed by the Income Tax Act of 1929, Arkansas Code § 26-51-101 et seq., and the premium tax le…

26 CAR § 250-103. Definitions. As used herein, unless the context otherwise requires: (1) “Act” means the Arkansas Historic Rehabilitation Income Tax Credit Act, Arkansas Code § 26-51-2201 et seq., as amended by Acts 2015, No. 567; (2) “AHPP” means the Arkansas Historic Preservat…

26 CAR § 250-104. Delegation of authority. (a) The State Historic Preservation Officer is delegated all powers necessary and convenient to carry out the responsibilities contained in this rule. (b)(1) The Department of Finance and Administration and State Insurance Department are…

26 CAR § 250-105. Introduction to certifications of eligibility and rehabilitation. (a) Who may apply. (1)(A) Ordinarily, only the fee simple owner of the property in question may apply for the certifications described below. (B) If an application for an evaluation of significanc…

26 CAR § 250-106. Certifications of eligibility (Part 1 application). (a) Requests for certifications of historic significance should be made by the owner to determine: (1) That a property: (A) Located within a National Register Historic District is of historic significance to su…

26 CAR § 250-107. Standards for Evaluating Significance within Historic Districts. (a) Properties located within historic districts are reviewed by the Arkansas Historic Preservation Program to determine if they contribute to the historic significance of the district by applying …

26 CAR § 250-108. Certifications of proposed rehabilitation (Part 2 application). (a) Owners who want rehabilitation projects for eligible properties to be certified by the Arkansas Historic Preservation Program as being consistent with the historic character of the structure, an…

26 CAR § 250-109. Standards for Rehabilitation. (a)(1) The following Standards for Rehabilitation are the criteria used to determine if a rehabilitation project qualifies as a certified rehabilitation. (2) The intent of the standards is to assist the long-term preservation of a p…

26 CAR § 250-110. Certificates of completion (Part 3 application). (a)(1) Upon completion of a rehabilitation project, the owner shall submit documentation required by the Arkansas Historic Preservation Program to verify that the completed rehabilitation qualifies as a certified …

26 CAR § 250-111. Transfer of credits. (a)(1) An owner of an Arkansas historic rehabilitation income tax credit may freely transfer, sell, or assign all or part of the tax credit amount identified in the certificate of completion. (2) A subsequent holder may also transfer, sell, …

26 CAR § 250-112. Fees. (a)(1) The fee for review of a proposed rehabilitation project (Part 2) is fifty dollars ($50.00). (2) This initial review fee is nonrefundable. (b) The fee for review of a completed rehabilitation project (Part 3) for a nonincome-producing property is one…

26 CAR § 50-113. Appeals. (a) Except as otherwise provided herein, a taxpayer may appeal any decision or action of the State Historic Preservation Officer. (b)(1) An owner appealing the Arkansas Historic Preservation Program’s determination of eligibility for listing on the Natio…

26 CAR § 251-101. Purpose. Pursuant to Acts 2019, No. 855, the Division of Arkansas Heritage through its Arkansas Historic Preservation Program hereby establishes this rule governing the four-part application process for which the owner of a historic Arkansas property may apply f…

26 CAR § 251-102. Definitions. As used in this rule: (1) "Act" means Acts 2019, No. 855, as codified at Arkansas Code § 19-5-1150 and § 26-51-2601 et seq., as such may be amended from time to time; (2) "AHPP" means the Arkansas Historic Preservation Program, an agency of the Divi…

26 CAR § 251-103. Delegation of authority. (a) The State Historic Preservation Officer is delegated all powers necessary and convenient to carry out the responsibilities contained in this rule. (b)(1) The Department of Finance and Administration and the State Insurance Department…

26 CAR § 251-104. Introduction to certifications of eligibility and rehabilitation. (a) Who may apply. (1)(A) Ordinarily, only the fee simple owner of the property in question may apply for the certifications herein described. (B) However, if an application is made by someone oth…

26 CAR § 251-105. Application period. (a)(1) The Division of Arkansas Heritage shall accept applications for the Arkansas major historic rehabilitation income tax credit beginning July 1, 2020, and ending June 30, 2025. (2) All tax credit projects must have their completed Part 3…

26 CAR § 251-106. Certifications of eligibility (Part 1 application). (a) Requests for certifications of historic significance should be made by the owner to determine: (1) That a property: (A) Located within a National Register Historic District is of historic significance to su…

26 CAR § 251-107. Standards for evaluating significance within historic districts. (a) Properties located within historic districts are reviewed by the Arkansas Historic Preservation Program to determine if they contribute to the historic significance of the district by applying …

26 CAR § 251-108. Certifications of proposed rehabilitation (Part 2 application). (a) Owners who want rehabilitation projects for eligible properties to be certified by the Arkansas Historic Preservation Program as being consistent with the historic character of the structure and…

26 CAR § 251-109. Application for Allocation of Funding (Part 3). (a) Eligibility for allocation of funding. (1) Upon the approval of Part 2 of the application, a rehabilitation project shall become eligible to apply for the funding reservation award within the Arkansas Major His…

26 CAR § 251-110. Standards for rehabilitation. (a)(1) The standards for rehabilitation cited herein are the criteria used to determine if a rehabilitation project qualifies as a certified rehabilitation. (2) The intent of the standards is to assist the long-term preservation of …