Example of Little River County Property Tax Calculation
Little River County calculates property tax by multiplying the assessed value of the property by the current tax rate. For example, if a property in Little River County has an assessed value of $100,000 and the current tax rate is 1.5%, then the annual property tax would be $1,500 (100,000 x 0.015). This tax rate is set by the county government and is subject to change each year. It is important to note that some properties may qualify for exemptions or reductions in their property tax, such as homestead exemptions for primary residences or tax abatements for certain types of development projects.
If you want appeal your property tax assessment - contact your local tax assessor.
Little River County Property Tax Rates
Little River County Property Tax Rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Tax | $0.50 |
| School Tax | $5.20 |
| City Tax | $1.00 |
| Library Tax | $0.30 |
| Road Tax | $1.00 |
| Conservation Tax | $0.05 |
Total Tax Rate: $8.05 per $100 of assessed value.
These tax rates are subject to change and it is recommended to consult with a local tax professional for specific information regarding Little River County property taxes.
Who sets property tax rates in Little River County ?
Who sets property tax rates in Little River County?
The Little River County Quorum Court sets property tax rates in Little River County. The Quorum Court is made up of elected officials from each of the county's districts who meet regularly to make decisions about county policies and finances.
When are property tax rates set in Little River County?
Property tax rates are typically set annually by the Quorum Court during their regular meetings in the fall. These rates are based on a variety of factors, including property values, county expenses, and the needs of the community.
It is important for property owners in Little River County to stay informed about changes to property tax rates and to understand how those rates are calculated. Consulting with a local tax advisor can be helpful in navigating the complexities of property taxes and ensuring that property owners are paying the correct amount.
Homestead exemptions in Little River County ?
To assist Little River County residents in understanding Homestead exemptions and deductions, we have created a table with four columns: exemption, eligibility, amount, and notes. These columns include Little River County-specific information.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Must be the owner of the property and live there | $3500 | This exemption applies to all property owners who live on their property. |
| Personal Property Homestead | Must be the owner of the property and live there | $1000 | This exemption applies to personal property, such as vehicles, boats, and trailers. |
| Disabled Veterans Homestead | Must be a veteran with a disability rating of 100% | $37,000 | This exemption applies to veterans who have a 100% disability rating. |
| Surviving Spouses Homestead | Must be the surviving spouse of a deceased veteran | $37,000 | This exemption applies to surviving spouses of veterans who died while on active duty or as a result of injuries sustained while on active duty. |
| Homestead Credit for Elderly | Must be 65 years or older and have a low income | Up to $375 | This exemption applies to senior citizens with a low income. |
| Homestead Credit for Disabled | Must be totally and permanently disabled and have a low income | Up to $375 | This exemption applies to individuals who are totally and permanently disabled with a low income. |
| Homestead Credit for Veterans | Must have served during a war period and have a low income | Up to $375 | This exemption applies to veterans who served during a war period with a low income. |
| Homestead Credit for Survivors | Must be the surviving spouse of a veteran who died in service and have a low income | Up to $375 | This exemption applies to surviving spouses of veterans who died during a war period with a low income. |
| Homestead Credit for Railroad Employees | Must be a retired railroad employee or surviving spouse | Up to $375 or 50% of property tax | This exemption applies to retired railroad employees or their surviving spouses. |
It's important to note that the amounts listed in the table are subject to change and Little River County residents may be eligible for additional exemptions or deductions. Therefore, it's recommended to consult with the Little River County Assessor's Office or a tax professional for the most up-to-date and accurate information.
When is Little River County Property Tax due ?
Little River County Property Tax is typically due on October 15th of each year. However, if this date falls on a weekend or holiday, the due date will be the next business day. It is important to note that failure to pay by the due date will result in penalties and interest.
There are several payment methods available for Little River County Property Tax. These include:
- In-person payments: Property owners can make payments in person at the Little River County Tax Collector's Office located in Ashdown, Arkansas.
- Online payments: Payments can be made online through the Little River County Tax Collector's website using a debit or credit card. A convenience fee will be added to the payment amount.
- Mail-in payments: Property owners can mail their payment to the Little River County Tax Collector's Office. The address is listed on the tax bill.
It is recommended that property owners consider using a payment method that provides a receipt or proof of payment. This will ensure that payment is properly credited and avoid any potential issues in the future.
In summary, Little River County Property Tax is typically due on October 15th and can be paid through in-person, online, or mail-in methods. Property owners should ensure that payment is made on time and consider using a payment method that provides a receipt or proof of payment.
If you have more questions - contact your local tax collector.
How is Little River County Property Tax penalty calculated ?
Little River County Property Tax Penalty Calculation
When property owners fail to pay their property taxes on time, they may incur penalties on top of their initial tax bill. Little River County uses a formula to calculate the penalty amount, which varies based on the delinquency period. Below is an example of how the penalty is calculated for a property with a tax bill of $1,000 that is delinquent for three months:
| Delinquency Period | Penalty Rate | Penalty Amount |
|---|---|---|
| 1st month | 10% | $100 |
| 2nd month | 15% | $150 |
| 3rd month | 20% | $200 |
To calculate the total penalty amount, you would add up each month's penalty amount, as shown in the table above, resulting in a total penalty of $450.
It is essential to pay property taxes on time to avoid incurring penalties, which can add up and become a significant financial burden over time. Property owners should be aware of the deadline for paying property taxes and make arrangements to pay before the due date to avoid penalties.
We recommend contacting the Little River County Tax Office or a local tax professional for the most up-to-date and accurate information.