Amendment 79 Benefits
Four benefits may accrue to the property owner/taxpayer as a result of the passage of Amendment 79 to the Arkansas Constitution in 2001.
- A tax credit of up to $350 on real property that qualifies as the owner’s homestead used as his/her principle place of residence
- A 5% limit on the annual increase in the taxable value of a homestead property
- A 10% limit on the annual increase in the taxable value of a non-homestead property
- A freeze on the taxable value of a homestead property owned by a person 65 years of age or older; and/or disabled