TO AMEND THE LAW CONCERNING PROPERTY TAX RELIEF; AND TO REQUIRE COUNTIES TO PROVIDE NOTICE TO TAXPAYERS CONCERNING CERTAIN PROPERTY TAX RELIEF OFFERED UNDER ARKANSAS LAW.

Fiscal Impact Statement Bill: HB1627 Bill Subtitle: TO AMEND THE LAW CONCERNING PROPERTY TAX RELIEF; AND TO REQUIRE COUNTIES TO PROVIDE NOTICE TO TAXPAYERS CONCERNING CERTAIN PROPERTY TAX RELIEF OFFERED UNDER ARKANSAS LAW. --------------------------------------------------------------------------------------------------------------------------------------- Sponsors: Reps. Barnett and Collins Basic Change: HB1627 requires a county tax official to include a highlighted statement concerning available property tax relief on the annual property tax statement provided to a taxpayer. The highlighted statement must notify the taxpayer of the property tax relief provided under Amendment 79 and § 26-26-1124, which includes the homestead property tax valuation freeze for a taxpayer at least 65 years of age or a taxpayer who is disabled. Fiscal Impact: None. Taxpayer Impact: A taxpayer would be provided information on the taxpayer’s annual property tax statement regarding property tax relief available under Amendment 79 and § 26-26-1124. Resources Required: County tax collectors would need software updates to include the required Amendment 79 language. County tax collectors may see a rise in s