[Dreamroper]

Good Morning,

I was wondering if anyone could share with me their opinion on the property tax rate in AR? We all know that TX is out of this world, I currently live outside of Colorado Springs on 5 acres in a manufactured home and my taxes are about $650 a year. I do have a 2 stall barn and a large shop. Thanks!
Denise

[nmnita]

Originally Posted by Dreamroper

Good Morning,

I was wondering if anyone could share with me their opinion on the property tax rate in AR? We all know that TX is out of this world, I currently live outside of Colorado Springs on 5 acres in a manufactured home and my taxes are about $650 a year. I do have a 2 stall barn and a large shop. Thanks!
Denise

Probably your taxes in Co are higher than here. I will give you a rough idea of our taxes, you can judge from that: We are in a city so pay city taxes, we have 1750 SQ FT, home was built in 1994 and has since been updated. The value iw about $160,000. Our taxes are just over 900.00 a year. I will add, we have a shed and a car or boat port as well as our double garage.

Nita

[Annemieke Roell]

Originally Posted by Dreamroper

Good Morning,

I was wondering if anyone could share with me their opinion on the property tax rate in AR? We all know that TX is out of this world, I currently live outside of Colorado Springs on 5 acres in a manufactured home and my taxes are about $650 a year. I do have a 2 stall barn and a large shop. Thanks!
Denise

That is because TX doesn't have state income tax. Like NH and other states, they make up for that in increased property taxes.

[nmnita]

Originally Posted by Annemieke Roell

That is because TX doesn't have state income tax. Like NH and other states, they make up for that in increased property taxes.

yes, this is very true, but depending on your income level, TX can be reasonalble or very high. It is great for people who do not own property or are in a very high income level, but for the average person it probably is a wash. Add to that sales taxes in Tx are starting to sky rocket.

Nita

[melissajo]

We moved here from Missouri (so not too far away). This was our first time receiving and Arkansas property tax bill. For our two vehicles-under 200 dollars. For our home, under 400 dollars (thanks to the homestead tax credit). While our experience living in Arkansas hasn't been the most positive, that property tax bill was a wonderful perk of living here.

[prowler]

Just to add another two cents worth here regarding cost of living comparisons, here in Indiana we recently experienced a 1% cap on annual real estate taxes. Prior to that, things were so convoluted that neighbors could actually be paying half or twice as much as one another for owning the same basic home. So now, until the political stage changes, a $200K home will be taxed at no more than $2,000 annually.

Indiana State Income Taxes are 7% on almost everything except "food" purchases and auto license fees are amazingly high. Expect to pay annual tag fees according to the value of your automobile. My 2008 Harley Davidson motorcycle's tags cost more than $200 last year - and the value of my bike is less than $20K. If your family owns 2 - 3 nice vehicles the annual cost can be high.

One of my daughters lives in Hilliard, Ohio, and her annual R.E. taxes exceed $9,000 so Arkansas taxes are looking favorable by comparison.

[SimplyTisha]

Arkansas property taxes are lower in most areas of the state, but like most places, it all depends on where you live. As another person has pointed out, the Homestead Tax Credit helps keep your real estate part of the tax down, but personal property can get pretty high, depending on what you own.

They tax it all. Vehicles, boats, motorcycles, travel trailers, hauling trailers, atv's, etc... It can add up.

Our property taxes went down about 35% this year, and all we did was sell a car and replace it with a slightly older one.

[nmnita]

Originally Posted by VacaGuru

Arkansas property taxes are lower in most areas of the state, but like most places, it all depends on where you live. As another person has pointed out, the Homestead Tax Credit helps keep your real estate part of the tax down, but personal property can get pretty high, depending on what you own.

They tax it all. Vehicles, boats, motorcycles, travel trailers, hauling trailers, atv's, etc... It can add up.

Our property taxes went down about 35% this year, and all we did was sell a car and replace it with a slightly older one.

I think you mean your personal property taxes went down, not your property taxes. If you property taxes went down 35% that would have nothing to do with what you sold or what you replaced it with. Actually we do not find personal property taxes very high consindering how cheap car registration is for starters.

Nita

[SimplyTisha]

Originally Posted by nmnita

I think you mean your personal property taxes went down, not your property taxes. If you property taxes went down 35% that would have nothing to do with what you sold or what you replaced it with. Actually we do not find personal property taxes very high consindering how cheap car registration is for starters.

Nita

Yes, my personal property went down. I use the term "real estate tax" for what you are terming property, and "property tax" for what you terming personal property. Seeing as how that is the way it is stated on my tax bill each year.

[Gigi849]

I see that property tax is based upon 20% of the value. How is the actual calculation made?