§ 26-26-404 - Computation and certification form. - Arkansas Statutes

26-26-404. Computation and certification form.

(a) (1) The governing body of each taxing unit in the base year of countywide reassessment shall complete the following form and return the form to the county clerk on or before the third Monday in November of the base year, using certified data provided by the county clerk as described in 26-26-402.

(2) The form shall be signed by the officers of the governing body of each taxing unit.

(b) (1) If newly discovered and new construction properties are less than a ten percent (10%) increase in assessments, the governing body of each taxing unit may elect to increase the rolled back millage an amount to allow no more than an overall ten percent (10%) increase in taxes.

(2) If the newly discovered and new construction property list is ten percent (10%) or more above reassessment total, the total amount is allowed; however, no increase in the rolled back millage shall be considered.

(c) Each tax source or millage levy shall be computed and rounded up to the nearest one-tenth (1/10) mill.

(d) The county clerk shall file and record the completed forms required in 26-26-403 and this section and shall forward a copy of the forms to the Assessment Coordination Division of the Arkansas Public Service Commission by December 1 of the base year.

Base Year Millage Rollback Computation and Certification Form Click here to view image.