PULASKI COUNTY, Ark.- Soon property owners all around Pulaski county could be paying more in taxes.
The Pulaski County Assessors Office just finished a countywide re-appraisal.
Kim Robbins, a realtor with Coldwell Banker RPM, says these re-appraisals are done to help the county catch up with market values of the properties.
The real estate company says it had several calls from concerned property owners about what this means for their taxes.
“Little Rock’s got one of the highest tax rates of anywhere,” says Dan DeLaughter, who owns a home in Midtown. He says another tax increase is the last thing people need.
“People are having trouble finding jobs,” says DeLaughter. “People are having a hard time making ends meet.”
The Assessor’s office is mailing out notices to property owners of value increases countywide.
“Most likely their taxes will probably go up,” says Robbins.
Robbins says the county uses several factors to determine an assessed value, but that isn’t the taxable rate.
“The millage rate actually determines what their taxable rate is,” says Robbins. Just because your house value goes up $8000 doesn’t mean your taxes will go up that much. It’s a percentage based on that millage.”
Robbins says both taxes and insurance go up annually, but usually it’s not so drastic.
Homeowners 65 and older are eligible for the county to freeze their taxes at their current rate and a Homestead credit can help other property owners get a tax break.
“It has to be your primary residence and you have to fill out the form and it’s automatically $350 off your taxes,” says Robbins.
People like DeLaughter still disagree with any increase.
“Most people are just recovering from coming out of the big housing boom that busted and everybody was upside down on their houses,” says DeLaughter. “They can do the same thing messing with everybody’s property taxes again.”
The County Assessors Office says if you think the increase in value is incorrect, you can file an appeal.