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Fayetteville - Springdale - Rogers Northwest Arkansas
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Old 01-04-2022, 08:21 PM
 
Location: Bella Vista, Arkansas
290 posts, read 151,199 times
Reputation: 413

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It looks as though our millage rate in this part of Bella Vista (CBV20 - Gravette School District) is remaining unchanged at 52.30. Because of the rapid rise in home prices, we have an increase from $1594 last year to $2304 due this coming October (both including the $375 homestead credit). At least from now on we're subject to the 5% per annum maximum increase in assessed value.
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Old 01-05-2022, 04:13 PM
 
Location: NWA
108 posts, read 94,352 times
Reputation: 204
Quote:
Originally Posted by mgforshort View Post
Thanks, VCVS
I wonder if that kind of increase apply to owners over 65 as well? I heard older residents taxes won't rise until the house is sold.
Not true in my case... and I'm well past 65... they claimed that since I bought in 2020 and they didn't reassess that this years reassessment was within guidelines... They valued my house 12k more than what I paid for it! can't fight city hall unless you gots lots of $$ for lawyer fees.
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Old 01-05-2022, 08:16 PM
 
1,600 posts, read 864,677 times
Reputation: 2701
Quote:
Originally Posted by jcoxwell View Post
Hi all, we moved to NWA in 2020 and LOVE it!! We are in shock because we received a new valuation on our home in Bella Vista, and it looks like our property taxes will increase by 40%!!!

We already claim the homestead exemption, but we want to appeal this with the county. Is anyone aware of other programs or options available to homeowners in Arkansas?

Thank you! -Jennifer

My house in Bentonville went up substantially last year, but I had just had an appraisal done (6 weeks before) to get the PMI taken off my loan and that appraisal was $30K less than the new valuation that the county had just sent. I called them, expecting I would have to take them/mail them/email them a copy of the appraisal, but they happily took my word for it and mailed me a new assessment two days later. The valuations weren't far off, but they also said they had stacks and stacks of appeals to work through and they didn't want me sending anything in.

Find some comparables, put together a case for an appeal and give them a call. The worst they can do is make you pay what they already sent you.

As an aside, I checked Zillow the other day to see what was available in Bentonville and sweet baby Jesus, the prices are insane. Let's just say that million dollar + houses are no longer limited to the immediate vicinity of the Bentonville square.
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