Example of Garland County Property Tax Calculation
Garland County calculates property tax based on the assessed value of the property. The assessed value is determined by the county assessor's office and is based on factors such as the property's location, size, and amenities. Once the assessed value is determined, the county applies a tax rate to calculate the amount of property tax owed.
For example, if a property in Garland County has an assessed value of $150,000 and the tax rate is 2%, the property owner would owe $3,000 in property taxes for the year. This amount may be paid in full at one time or may be divided into installments depending on the county's policies.
It is important to note that property tax rates can vary depending on the specific location within Garland County and any other applicable local taxes or fees. Property owners should check with the county assessor's office or a qualified tax professional for more information on their specific property tax obligations.
If you want appeal your property tax assessment - contact your local tax assessor.
Garland County Property Tax Rates
The following table shows the property tax rates for Garland County in US dollars per $100 of assessed property value:
| Tax | Rate per $100 Assessed Value |
|---|---|
| County | $0.55 |
| City of Hot Springs | $0.52 |
| Hot Springs School District | $3.98 |
| Lake Hamilton School District | $3.98 |
| Fountain Lake School District | $3.98 |
It is important for taxpayers in Garland County to be aware of these rates when budgeting for property ownership.
Who sets property tax rates in Garland County ?
Who Sets Property Tax Rates in Garland County?
The property tax rates in Garland County are set by the county government. Specifically, the Garland County Quorum Court is responsible for approving the property tax rates each year.
When Are Property Tax Rates Set in Garland County?
Property tax rates in Garland County are typically set in October of each year. This allows for the rates to be incorporated into the county's budget for the upcoming fiscal year, which begins in January.
Summary
- Property tax rates in Garland County are set by the county government.
- The Garland County Quorum Court is responsible for approving the rates each year.
- Property tax rates are typically set in October, to be incorporated into the county's budget for the upcoming fiscal year.
| Category | Information |
|---|---|
| Who sets property tax rates? | The county government |
| Specifically, who is responsible for approving the rates? | The Garland County Quorum Court |
| When are property tax rates set? | In October of each year |
| Why is October a significant month for property tax rates in Garland County? | It allows for the rates to be incorporated into the county's budget for the upcoming fiscal year, which begins in January |
Homestead exemptions in Garland County ?
To fully understand the available Homestead exemptions and deductions in Garland County, Arkansas, here is a breakdown of the different columns that should be included in a table:
| Column Name | Description |
|---|---|
| Exemption | The type of exemption that is offered to eligible homeowners |
| Eligibility | The requirements that homeowners must meet to qualify for the exemption |
| Amount | The monetary value of the exemption or deduction |
| Notes | Any additional information or exceptions that homeowners should be aware of |
Now, let's dive into the specifics of Garland County's Homestead exemptions and deductions:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead | Property is owned and used as the primary residence | Up to $350 per year | |
| Senior Citizen | Property is owned and used as the primary residence by an individual who is at least 65 years old or older | Up to $500 per year | The homeowner must apply annually |
| Disabled Veteran | Property is owned and used as the primary residence by a veteran who is 100% disabled as a result of service | Up to $35,000 of the assessed value of the property | The exemption may transfer to the veteran's surviving spouse if they remain unmarried |
| Widow(er) | Property is owned and used as the primary residence by a widow(er) whose spouse passed away while having a Homestead exemption | Keep the same exemption as before | The widow(er) must notify the county of their spouse's passing |
It is important to note that these exemptions and deductions may have specific deadlines and requirements for application. Homeowners are encouraged to reach out to the Garland County Assessor's Office for more information on how to apply and take advantage of these benefits.
When is Garland County Property Tax due ?
Garland County Property Tax is typically due on October 15th of each year. There are several payment methods available for property owners to pay their taxes on time. Some of the popular payment methods are:
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Online payment: Property owners can pay their taxes online by visiting the Garland County Tax Collector's website and following the instructions provided.
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Mail-in payment: Property owners can also pay their taxes by sending a check or money order to the Garland County Tax Collector's office. The payment should be made payable to Garland County Tax Collector.
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In-person payment: Property owners can visit the Garland County Tax Collector's office and pay their taxes in person. The office is located at 215 E. Church St., Room 103, in Hot Springs, AR.
It's important to note that if the property owner fails to pay their property taxes on time, they may be subject to penalties and interest charges. Therefore, it's crucial to make sure the payment is made before the due date.
Here's a quick summary of the payment methods available for Garland County Property Tax:
| Payment Method | Instructions |
|---|---|
| Online payment | Visit the Garland County Tax Collector's website and follow the instructions |
| Mail-in payment | Send a check or money order to the Garland County Tax Collector's office, payable to Garland County Tax Collector |
| In-person payment | Visit the Garland County Tax Collector's office at 215 E. Church St., Room 103, in Hot Springs, AR |
Remember, paying property taxes on time is essential to avoid penalties and interest charges. Make sure to mark your calendar for October 15th and choose the payment method that works best for you.
If you have more questions - contact your local tax collector.
How is Garland County Property Tax penalty calculated ?
Garland County Property Tax Penalty Calculation:
When a property owner in Garland County fails to pay their property taxes on time, a penalty is added to the amount due. The calculation of the penalty is done based on the following factors:
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Tax Due Date: The due date for the property tax is October 15th every year. If the tax is not paid by this date, a 10% penalty is added to the total amount due.
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Interest: In addition to the penalty, interest is also charged on the unpaid taxes. The interest rate is set by the state of Arkansas and is currently 10%.
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Monthly Penalty: If the property owner fails to pay the tax for more than one month, an additional penalty of 1% is added to the total amount due for each month that the tax remains unpaid.
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Maximum Penalty: The maximum penalty that can be charged is 10% of the total amount due.
Example:
Let's say that Mr. Smith owns a property in Garland County and his property tax for the year amounts to $2,000. He fails to pay the tax by the due date of October 15th. Here is how the penalty is calculated:
- 10% penalty for missing the due date: $200
- Interest at 10% for the entire unpaid amount: $200
- Monthly penalty for November and December: $40 ($20 per month)
- Total Penalty: $440
Therefore, Mr. Smith's total amount due would be $2,440 ($2,000 + $440 in penalties). It's important to note that if he fails to pay the tax even after the penalty has been added, the county may initiate legal action to collect the unpaid tax, which could result in additional fees and penalties.
We recommend contacting the Garland County Tax Office or a local tax professional for the most up-to-date and accurate information.