Cleburne County Assessor Judy Land said residents must assessor personal property by May 31 to avoid a 10 percent penalty while speaking to the Cleburne County Republican Party Committee Tuesday.
Land said assessment is more than for renewing a car license It also includes a utility trailer, a boat and an ATV.
"We work hard to inform the public and want people to know the deadline," Land said. "We had people who didn't assess until Dec. 31 last year. Some people prefer to do it all at the same time and don't mind paying the 10 percent penalty."
Land said if citizens report they no longer own a car, boat, utility trailer or ATV by May 31, they would not be liable for paying tax on that property.
Five full time employees and two part-time employees, plus Land, have been with the deadline not far away. She said the job is easier because of a good working relationship with the tax collector's office.
"We work well together with tax office to get the process going," Land said. "It's not that way in every county.
We share information with each other. It's not that way in some counties. You can now assess online and sign up for a notification that the next assessment is due."
Land said mineral rights tax collections is important to the county. She said it's approximately 10 percent of what is collected.
"We had 115,000 mineral parcels last year," she said. "We depend 100 percent on the production companies to report data. Collections is based on a three-year average. That was an agreement in 2006 with the companies because gas prices were higher. Now, they don't like that way because prices continue to go down."
The Arkansas Legislative recently passed a new law that citizens like. Land said the homestead tax credit will increase from $350 to $375 beginning with the 2019 taxes, which will be paid in 2020.
"Taxes still are frozen when you turn 65 years old," she said. "You must apply by Oct. 15 to get the credit."
Land explained millage plays a part in determining what a taxpayer will pay. The county's lowest rate in Heber outside (37.9 mills) and the highest in Concord inside (46.7 mills).
"Eighty-one to 84 percent of the tax collections go to the school districts," Land said. "For example, if you live in Heber outside, you would play $379 for property assessed at $10,0000. In Concord inside, it would be $467."
Cities receive from 3.3 to 5.7 percent, Land said.
"For example, $4.50 of a $10,000 assessment would go to a city," she said. "The other 4.50 would go to the county."
Cleburne County Assessor Judy Land talked about the importance of assessing property by deadline at Tuesday's Cleburne County Republican Committee.