Commercial Property Owners May Need to Prepare to File an Appeal in Arkansas
Vance Shull, Principal 972.934.0022 | vance.shull@ryan.com
Daniel Harris, Consultant 469.399.4762 | daniel.harris@ryan.com
Each year, Arkansas assessors for each county are responsible for valuing all property by January 1 of the last revaluation year. If there are no changes recorded to a commercial property, its value remains the same until it is automatically reappraised in either a three-year or five-year cycle (depending upon the county). Assessment notices are mailed by the third Monday in July only if a value change has occurred.
Property owners have the right to appeal their property valuations every year, which begins with scheduling a hearing with the County Board of Equalization by the third Monday in August. Once the decision is made by the county board, it is final unless an aggrieved party appeals to the County Court by the second Monday in October.
The local experts at Ryan have deep knowledge of the Arkansas commercial real estate market and are available to answer questions and assist with tax minimization strategies.