Procedure for adjustment of taxes after reappraisal or reassessment of property — Definition
Applied in 1 court decision — leading case Barker v. Frank (1997)
Most recently applied in Barker v. Frank (March 1997)
Acts 1981, No. 848, § 1; A.S.A. 1947, § 84-493; Acts 1997, No. 1300, § 22; 2019, No. 315, § 2955.
Current year of second Taxes shall be current-year taxes to period of five (5) years which shall be added the following per- centage of the difference between the cur- rent-year taxes and the base-year taxes (if greater than current-year taxes) 1st year 80% of difference 2nd year 60% of difference 3rd year 40% of difference 4th year 20% of difference 5th year and thereafter Current year's taxes only
table.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.