Appraisal Department
Arkansas law, specifically A.C.A. § 26-26-1902(b)(1), mandates that each county is required to appraise all real estate at its current market value at a minimum of every five (5) years to reflect current market conditions. Our last county-wide reappraisal occurred in 2021, with our next reappraisal scheduled for 2024. In the upcoming county-wide reappraisal, every real estate parcel will be valued as of January 1, 2024.
A property’s value can change for many reasons, including a change in the property’s physical characteristics, or a change in the use of the property. However, the most frequent cause is a result of current market conditions. With all of the new development and tremendous demand for property in Benton County, many property values are on the rise. The good news is this means the investment in your real estate has grown. However, it’s important to remember that although every parcel will be reappraised, not all property values will automatically change. The appraised value is market derived and properties located in appreciating market areas and/or neighborhoods may go up in appraised value, while other properties may stay at the same value and some may even decline in value, depending on what the market data indicates for the specific neighborhood or market area.
A property’s value can change for many reasons, including a change in the property’s physical characteristics, or a change in the use of the property. However, the most frequent cause is a result of current market conditions. With all of the new development and tremendous demand for property in Benton County, many property values are on the rise. The good news is this means the investment in your real estate has grown. However, it’s important to remember that although every parcel will be reappraised, not all property values will automatically change. The appraised value is market derived and properties located in appreciating market areas and/or neighborhoods may go up in appraised value, while other properties may stay at the same value and some may even decline in value, depending on what the market data indicates for the specific neighborhood or market area.