Personal Property and Business Personal Property
Arkansas law requires that all property owners assess their personal property, and their business personal property (if applicable) between January 1st and May 31st of each year. State law also places the assessment level at 20% of current market value. For additional information relevant to the State of Arkansas, visit the Assessment Coordination Division of the Arkansas Department of Finance and Administration.
Assessing Personal Property
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If you need to add a new vehicle or remove one you may fill out the online form, email, fax, or bring in the title and/or bill of sale. As residents buy, sell and trade vehicles and residents move into, out of, or within the county, they need to notify the Assessor’s Office of these changes as they occur.
Assessing Business Personal Property
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215 E Central Ave Bentonville, AR 72712 |
Business assessment forms are sent by mail to known businesses within the county. If you are a new business or an existing business and have not received an assessment form by the end of January, please contact the business office at 479-271-1087.
New Business Information
If you have opened a new business in Benton County you can submit your information online by clicking HERE. We will set up your account and mail your business assessment forms each January.
Business Statutes:
Business Assessment Information and StatutesDepreciation Schedule:
Business Personal Property Depreciation ScheduleExample Business Assessment Forms:
Commercial Office ExampleRetail Example
Business Personal Property FAQs:
Click Here for FAQsLate Assessment Penalty Information:
All businesses and residents (exempt and non-exempt) are required to report their personal property assessment each year before May 31. After May 31, a 10% penalty will be applied to late assessments, regardless of exempt status. Penalty is based on 10% of the assessed value (on all assets not assessed). The purchase price (or state value, whichever is used) less depreciation, multiplied by 20% gives the value. That value multiplied by 10% gives you the penalty. EXAMPLE: Purchase price = $5,000 less depreciation (1,100 depends on asset) = $3900 x 20% (assessed value) = 780. 780 x 10% = 78 penalty. This is not dollars. It is 10% of the assessed value. To relay this into dollars take the 78 multiplied by the school district millage rate where the item is kept (example is .0527). 78 x .0527 = $4.11.
The Assessor does not levy taxes. Instead, please check the:
Collector’s Office
