§ 8-7-706 - Ad valorem tax exemption. - Arkansas Statutes

8-7-706. Ad valorem tax exemption.

Upon initiation of a response action at a hazardous site, such site shall be appraised at no value for purposes of any ad valorem taxes levied by any state, county, or local governmental authority unless and until the Arkansas Department of Environmental Quality issues an order wholly terminating the construction and use prohibitions established by 8-7-705. This section shall not apply to the interest in such hazardous site owned by any passive site owner or its successors and assigns that have violated 8-7-703(a).