Rate Breakdown

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

How Property Tax Works in Sebastian County

Property taxes in Sebastian County are calculated by first determining the market value of a parcel of real estate. The county assessor conducts an annual market appraisal, typically in the spring, and assigns a “assessed value,” which is a percentage of the market value. In Arkansas, the default assessment ratio is 30% for residential property, meaning the assessed value equals 30% of the home's fair market price; commercial and industrial properties may have different ratios.

Once the assessed value is established, the tax bill is derived by applying the applicable millage rates. A millage rate represents the amount of tax per $1,000 of assessed value. Sebastian County’s overall tax rate is a combination of rates set by the county, the city of Greenwood (or other incorporated areas), school districts, special districts (such as fire, water, or road improvement), and any voter‑approved levies. For example, in fiscal year 2025 the county portion was 10.38 mills, while the Greenwood city rate added 12.00 mills, and the River Valley School District contributed 17.25 mills, resulting in a total millage of roughly 39.63 mills (or $39.63 per $1,000 of assessed value).

To estimate your annual property tax, multiply the assessed value by the total millage rate and divide by 1,000:

Tax = (Assessed Value × Total Millage) ÷ 1,000

Keep in mind that any exemptions you qualify for (see the next section) will reduce the assessed value before the millage is applied.

Available Exemptions

Arkansas offers several property‑tax exemptions that directly lower the assessed value of a home. Residents of Sebastian County may be eligible for one or more of the following:

• Homestead Exemption: Reduces the assessed value of a primary residence by up to $2,000 for homeowners, and an additional $433 for seniors (age 65+).
• Senior Citizen Exemption: Homeowners age 65 or older receive an extra $433 reduction, on top of the standard homestead exemption.
• Disability Exemption: Individuals with a permanent physical or mental disability that meets Arkansas criteria obtain a $433 reduction.
• Veteran Exemption: Disabled veterans (or surviving spouses) with a service‑connected disability of at least 30% receive a $433 exemption; veterans with a 100% disability may qualify for additional state‑wide benefits.

Exemptions are applied to the assessed value before the millage calculation, so they can significantly lower the final tax bill. To claim an exemption, file the appropriate forms with the Sebastian County Assessor’s Office by the March 31 deadline each year.

Payment Schedule & Deadlines

Property taxes in Sebastian County are due in two installments:

• First Installment: Due on November 15 for the fiscal year beginning July 1.
• Second Installment: Due on May 15 of the following calendar year.

If either installment is not paid by its due date, a 10% penalty is added to the outstanding balance, and interest accrues at the state‑prescribed rate (currently 1% per month). The county also offers a limited “Early Bird” discount of 2% when the first installment is paid before October 1.

Taxpayers may choose to pay the full amount in a single lump sum before November 15 to avoid any penalties or interest. Payments can be made online through the Sebastian County Treasurer’s portal, by mail with a cheque, or in person at the Treasurer’s Office. Setting up automatic bank drafts is encouraged for convenience and to ensure timely payment.

Appealing Your Assessment

If you believe your property’s assessed value is inaccurate, you have the right to appeal. Follow these steps to initiate the process in Sebastian County:

• Review the Notice: The county will send an Assessment Notice in March. Verify the market value, property description, and any exemptions applied.
• File a Petition: Submit a written petition to the Sebastian County Assessment Review Board (ARB) by the deadline—typically April 15. Include supporting evidence such as recent comparable sales, an independent appraisal, or photographs highlighting discrepancies.
• Attend the Hearing: The ARB will schedule a hearing, usually within 30 days of filing. Be prepared to present your evidence and answer questions.
• Decision: The board issues a written decision within 15 days of the hearing. If the decision is unfavorable, you may appeal further to the Arkansas Board of Assessment Appeals, and ultimately to the state Court of Appeals.

Throughout the appeal, maintain copies of all communications, assessments, and supporting documents. Engaging a qualified property tax consultant or appraiser can improve the likelihood of a successful outcome.