Some real estate, personal property exempt

Personal and real estate property taxes are levied in mills, and property owners are required to pay annually.

Real estate property taxes are charged to owners of real estate.

Personal property taxes are charged on everything from cattle to vehicles, and recreational vehicles to trailers.

Property excluded from property taxes include:

• Public property used exclusively for public purposes;

• Churches used as such;

• Cemeteries used exclusively as such;

• School buildings and apparatus;

• Libraries and grounds used exclusively for school purposes;

• Buildings and grounds and material used exclusively for charity;

• All capital invested in a textile mill for the manufacture of cotton and fiber goods in any manner is exempt for seven years from the date of the location of said mill.

Officials say all intangible personal property has been exempted by the legislature, including household furniture and furnishings, clothing, appliances, and other personal property within the home, if not held for sale, rental, or other commercial or professional use.

Arkansas Assessment Coordination Department

Source: http://harrisondaily.com/some-real-estate-personal-property-exempt/article_332b79b2-35c0-11e2-abc3-0019bb2963f4.html