Rate Breakdown

Property taxes in Faulkner County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Faulkner County

In Faulkner County, property tax is calculated by multiplying the county‑assessed value of a parcel by the applicable millage rate. The Arkansas Assessment and Taxation Committee (ATC) determines the “fair market value” of each property, then the County Assessor applies a uniform assessment ratio (typically 10 % for residential land and 20 % for commercial land) to arrive at the assessed value. The resulting figure is expressed in dollars per $1,000 of assessed value – this is the “taxable base.” The Faulkner County Board of Assessors then adopts millage rates for various taxing entities (school district, city, road department, special districts, etc.). One mill equals $1 of tax per $1,000 of assessed value. Adding together all millages that apply to a parcel yields the total tax rate that will be levied on the assessed value.

Available Exemptions

Arkansas law offers several exemptions that can lower the taxable base for qualified owners. Faulkner County applies these statewide exemptions automatically when the eligibility criteria are met.

• Homestead Exemption: Reduces the assessed value of a primary residence by up to $5,000. Must be owner‑occupied and the owner must file a homestead declaration.
• Senior Citizen Exemption: Residents age 65 or older may receive a $1,000 exemption on the assessed value of their principal dwelling.
• Disability Exemption: Persons with a permanent, total disability can claim a $1,000 reduction in assessed value, plus any applicable senior exemption if they also meet the age requirement.
• Veteran Exemption: Eligible veterans receive a $1,500 exemption for a primary residence. The exemption increases to $2,500 for veterans who are totally disabled or who have served in combat zones.

To claim any exemption, owners must submit the appropriate application to the Faulkner County Assessor’s Office before the annual assessment deadline (usually March 15). Supporting documentation, such as proof of age, disability rating, or military discharge papers, must accompany the request.

Payment Schedule & Deadlines

Faulkner County property taxes are due in two installments. The first installment is payable on the first business day of August, and the second installment is due on the first business day of December. Each payment equals 50 % of the total tax bill.

• Early payment discount: Paying the August installment by July 31 reduces the amount by 5 %.
• Late payment penalties: If an installment is not paid by the deadline, a 10 % penalty is added to the overdue amount, plus interest at the statutory rate of 5 % per annum.
• Installment options: Taxpayers may split the August due amount into monthly payments through the county’s online portal, but must enroll before the due date to avoid penalties.

All payments can be made online, by mail, or in person at the Faulkner County Treasurer’s Office. The Treasurer sends a reminder notice two weeks before each deadline.

Appealing Your Assessment

If you believe your property has been over‑assessed, you have the right to appeal the valuation. The appeal process in Faulkner County follows these steps:

1. File a Notice of Appeal: Submit a written notice to the Faulkner County Assessor’s Office within 30 days of receiving the assessment notice.
2. Prepare supporting evidence: Gather recent comparable sales, an independent appraisal, or evidence of property damage that affects value.
3. Attend the hearing: A hearing will be scheduled before the Board of Assessors. Present your evidence and answer any questions.
4. Decision: The Board issues a written decision within 15 days of the hearing. If unsatisfied, you may further appeal to the Arkansas Board of Assessment Review.

Throughout the appeals process, maintain copies of all correspondence and submit any additional documentation promptly to ensure your case is considered fairly.