Property taxes falling, but not much
BERRYVILLE -- There won't be much of a property tax decrease in Carroll County this year, according to statistics from Dennis Wells, Arkansas CAMA Technology Project Manager.
"Compared to last year's taxable amount to this year's, it will decrease approximately 0.62 percent," Wells said. "That's not much."
Wells explained the full assessed value of a property is determine by multiplying the appraised value of the property by 20 percent, as required by state law. Since the passage of Amendment 79 in November of 2000, an increased real estate assessment may not necessarily mean an increase in property taxes.
Wells also mentioned that there is an additional 29 million dollars of new construction (i.e. barns, chicken houses...) added to the existing value of property within the county, but is assessed at the existing 20 percent.
"This is a three-year cycle of sales value and property values have been slower going up, than say Benton or Washington counties," Wells said. "This year we are catching lowering the total property taxes for the whole county."
Copies of Understanding the 2012 Carroll County Reappraisal Project, can be picked up at the Carroll County Assessor's office.
Wells addressed agriculture rates within Carroll County:
* Crop (orchards) rates are up 12 percent.
* Pastures are up 2 percent.
* Timber rates have declined 4 percent.