Property owned by the taxpayer is valued at its original cost. Property rented by the taxpayer is valued at eight times the net annual rental rate. Net annual rental rate is the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from sub-rentals.
Ark. Code Ann. § 26-51-711
Original cost of property — Annual rental rate. [Repealed effective January 1, 2021.]
Acts 1961, No. 413, § 11; A.S.A. 1947, § 84-2065.
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.