Title 26 — Taxation

(a) (1) (A) A taxpayer shall annually assess his or her tangible personal property for ad valorem taxes during the period from January 1 through May 31.(B) A taxpayer's tangible personal property includes a motor vehicle that is leased pursuant to a contract providing for the use…

(a) It is the purpose of this subchapter to clarify the law relating to the taxation of state and national banks, savings and loan associations, and building and loan associations chartered under state and federal law and to simplify and to broaden the tax base applicable to thes…

(1) As used in this subchapter, unless the context otherwise requires:(1) “Business corporation” means a corporation incorporated under the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq.; (2) “Financial institution” means a state bank or national bank, a savings an…

For purposes of the ad valorem personal property tax, financial institutions shall assess and be taxed upon their personal property the same as other owners of personal property, except as may be prohibited by federal law.

(a) Financial institutions shall be subject to the ad valorem real property tax levied pursuant to the authority granted in the laws of this state, to the same extent as other owners of real property in this state. (b) The assessment of taxes upon the real property of national ba…

(a) Bridge, savings banks, mutual loan, building, transportation, construction, and all other companies, corporations, or associations incorporated under the laws of this state, or under the laws of any other state, and doing business in this state, other than the companies, corp…

(1) For the purpose of assessment and taxation, any person, firm, company, copartnership, cooperative, association, or corporation, wherever organized or incorporated, engaged in the business of:(1) Transmitting natural gas or oil through pipelines, within, into, from, or through…

(a) For purposes of this subchapter, property is used or held for use in the operation of a company as such if it is owned or controlled by a utility or carrier and is being utilized, is capable of utilization, in the operation of a utility or carrier, or is being constructed for…

(a) Each company, as defined in § 26-26-1601, shall annually on or before March 1, make and deliver to the Tax Division of the Arkansas Public Service Commission, in such form as the division may prescribe, a statement of the proper official, agent, or person of the company, show…

(a) (1) Unless for good cause shown, should any company fail to file on or before March 1 the complete statement required of it by §§ 26-26-1602 and 26-26-1603, the time for making the return shall be extended for not more than sixty (60) days.(2) The Tax Division of the Arkansas…

(a) (1) The Tax Division of the Arkansas Public Service Commission shall meet the first Monday in March of each year for the purpose of assessing the property which it is required to assess.(2) Before entering upon the discharge of his or her duties, each commissioner shall subsc…

(a) The returns of the persons, firms, companies, copartnerships, associations, and corporations whose assessment is provided for by this subchapter shall not be held to be conclusive as to the value of the property so returned, but the Tax Division of the Arkansas Public Service…

(a) The valuation of the taxable property, both real and personal, of all persons, firms, companies, copartnerships, cooperatives, associations, and corporations required by law to be assessed by the Tax Division of the Arkansas Public Service Commission shall be made upon the co…

If any person, firm, company, copartnership, association, or corporation whose assessment is provided for in this subchapter neglects or refuses to make and file with the Tax Division of the Arkansas Public Service Commission by March 1, the statements and schedules required by t…

At any time after the meeting of the Tax Division of the Arkansas Public Service Commission on the first Monday in March and before the assessment of the property of any company is determined, any company or person interested shall have the right, on written application, to appea…

(a) After the Tax Division of the Arkansas Public Service Commission shall have completed the original assessment of any property within its jurisdiction, it shall, as soon as practicable, give notice in writing by first class mail to the owner, officer, agent, or attorney making…

(1) The Tax Division of the Arkansas Public Service Commission shall assign or apportion the assessed value of the property of all persons, firms, companies, copartnerships, associations, and corporations which it is required to assess in the following manner:(1) There shall be d…

(a) When the Tax Division of the Arkansas Public Service Commission has ascertained the assessed value of the property of any company which it is required to originally assess other than bus lines, motor freight, airlines, water transportation companies, and private car companies…

All real and personal property, not used in the utility operation of the company as such, of any carrier pipeline, railroad, street, interurban or suburban railroad, express, sleeping car or intercounty bus line company and of any telegraph, telephone, electric power, gas, water,…

(a) (1) Having ascertained and fixed the taxable value of the tangible and intangible property used or held for use in the operation of each intercounty bus line, intercounty motor freight, airline, or water transportation company, as required by law, the Tax Division of the Arka…

The average rate of ad valorem levy throughout this state shall be determined by totaling the millage rate for all purposes for each of the several taxing districts of this state for the assessment year and dividing the total obtained by the number of taxing districts of this sta…

(a) (1) Except as provided in subsections (c) and (d) of this section, all taxes and penalties collected under § 26-26-1614 shall be deposited into the State Treasury as trust fund income to the credit of the Ad Valorem Tax Fund.(2) (A) The Treasurer of State shall annually trans…

(a) (1) Taxes and penalties certified to the Secretary of the Department of Finance and Administration under § 26-26-1614 shall be collected within ten (10) years from the date of certification to the secretary.(2) Taxes and penalties that have not been collected within ten (10) …

(a) The Secretary of the Department of Finance and Administration may waive any tax certified under § 26-26-1614, or any portion of a tax certified under § 26-26-1614, in the following circumstances:(1) There is controversy over the amount of tax due;(2) The inability of the taxp…

As used in this subchapter, unless the context otherwise requires, “private car company” means every person, company, or corporation other than a railroad company, engaged in the business of operating cars or engaged in the business of furnishing or leasing cars for the transport…

(1) The president or other chief officer of every private car company shall, on or before April 1 each year, make and file with the Tax Division of the Arkansas Public Service Commission a verified statement showing:(1) The aggregate number of miles made by each class of its cars…

(1) The president or other chief officer of every railroad whose lines run through or in this state shall, on or before April 1 each year, make and file with the Tax Division of the Arkansas Public Service Commission a verified statement showing:(1) Separately, by classes, the to…

(a) If any private car company shall fail or refuse to make and file the statement required by § 26-26-1702 within the time therein prescribed or shall fail or refuse to authorize in writing the use of the information and data submitted by the several railroads in determining its…

(a) The Tax Division of the Arkansas Public Service Commission, from the statements required by §§ 26-26-1702 and 26-26-1703 and other information it may obtain, shall ascertain and fix, as the basis for assessment, a uniform daily average travel of cars of each particular class …

(a) The Tax Division of the Arkansas Public Service Commission, having ascertained and fixed the assessed valuation of the cars of each private car company as provided in § 26-26-1705, shall levy and extend against each valuation the average rate of ad valorem levy prevailing thr…

(a) (1) All taxes and penalties collected under the provisions of this subchapter shall be deposited into the State Treasury as trust fund income, to the credit of the Ad Valorem Tax Fund.(2) (A) The Treasurer of State shall annually transmit to the respective county treasurers o…

As used in this subchapter, unless the context otherwise requires, “cable television system” means any facility that, in whole or in part, receives, directly or indirectly, over the air and amplifies, or otherwise modifies, the signals transmitting programs broadcast by one (1) o…

The Arkansas Public Service Commission shall have no jurisdiction over or duties as regards cable television systems other than the duty to make original assessments of the property incorporated in or used by those systems as herein provided.

The Tax Division of the Arkansas Public Service Commission shall adopt such rules as are necessary in order to make original assessments of all property, both real and personal, used by cable television systems in this state.

(1) As used in this subchapter:(1) “Countywide reappraisal” means a cyclical review program begun pursuant to the terms of this subchapter;(2) “Division” means the Assessment Coordination Division; and(3) “Reappraisal” means the estimating of the value of all taxable real propert…

(a) Except as provided in subsection (b) of this section, each county shall appraise all market value real estate normally assessed by the county assessor at its full and fair market value every four (4) years. (b) In order to reach a substantially equal number of counties underg…

(1) The Assessment Coordination Division shall determine which counties shall be required to complete reappraisals in the years stated in § 26-26-1902(b), based on the following criteria:(1) The length of time since the last countywide reappraisal;(2) The level and quality of ass…

(1) The objectives of this subchapter are as follows:(1) To establish and promote a uniform system of real property assessments within each county of the state and among the counties;(2) To provide for the certification of appraisers who perform services under this subchapter and…

(a) To carry out the provisions of this subchapter, the Assessment Coordination Division, as it deems necessary, appropriate, and consistent with the objectives of this subchapter, shall:(1) Develop and implement rules relating to reappraisal procedures to be followed by counties…

(a) County assessors or those otherwise responsible for the valuation of real property for assessment purposes shall employ computer-assisted mass appraisal systems approved by the Assessment Coordination Division. (b) Information stored in the electronic database used in the com…

(a) (1) There is created a fund to be known as the “Arkansas Real Property Reappraisal Fund”.(2) The proceeds of the fund shall be used to pay counties and professional reappraisal companies for the reappraisal of real property required by this subchapter and shall be in lieu of …

The provisions of §§ 26-26-401 — 26-26-409 and 26-26-410 [repealed] relative to the adjustment or rollback of millage levied for ad valorem tax purposes shall be applicable when a countywide reappraisal of property is completed as provided in this subchapter.

Implementation of this subchapter does not relieve a county of any previous requirement for a reappraisal.

The provisions of this subchapter shall not affect either the duties of the county equalization board or the county assessor's duties in relation to the assessment of personal property or any other responsibilities of the county assessors not directly addressed in this subchapter…

The Assessment Coordination Division shall promulgate rules for the implementation of this subchapter.

(a) (1) (A) There shall be a penalty of ten percent (10%) of all taxes due on all persons and property delinquent in assessment.(B) Where the penalty of ten percent (10%) of the amount of all taxes due shall amount to less than one dollar ($1.00), the penalty shall be arbitrarily…

(a) It shall be unlawful for any person to refuse to give the county assessor or the appointed deputy his or her name and a complete and accurate description of his or her personal and real property, together with the location and value of it. (b) Any person so refusing, upon con…

(a) All duties imposed by this subchapter on all state and county officers are declared to be mandatory, and any officer who neglects, fails, or refuses to perform any such duty shall be subject to removal from office and liable on his or her official bond for such neglect, failu…

(a) It shall be the duty of each county assessor to keep his or her appraisal and assessment data and records current by securing the necessary field data and making changes in valuations as changes occur in land use and improvements, and as errors are discovered and corrected, s…

(a) The appraisal and assessment shall be according to value as required by Arkansas Constitution, Article 16, Section 5. (b) The percentage of true and full market or actual value to be used in the appraisal and assessment shall be fixed and certified by the Arkansas Public Serv…