Taxes

Local Taxes

Applicable Local Ad Valorem Taxes

$44.10 per $1,000 Assessed Value
(Nettleton School District)

	County General:  .0040
	County Road:  .0021
	Library:  .0020
	Policemen’s Pension:  .0005
	Firemen’s Pension:  .0005
	Nettleton School Millage:  .0350
	TOTAL:  .0441

Rate of Assessment

Residential, Industrial Real and Industrial Personal Property is assessed at a rate of 20% of Fair Market Value

Payment in Lieu of Property Tax

Real and personal property financed by revenue bonds and general obligation bonds may be exempt from property taxes during the lease-amortization period in which a local government retains title to the property.  Payments by businesses to local governments in lieu of property taxes are generally encouraged and negotiated between the parties involved.

The negotiated Payment in Lieu of Property Taxes shall not be less than 35% of the property taxes that would have been paid if the property were on the tax rolls.

Raw Materials, Goods-in-Process Inventory and Finished Goods Inventory

Tangible personal property in transit through Arkansas and inventory tangible personal property manufactured, processed or refined in Arkansas and stored for shipment outside the state are exempt from taxes.

Applicable Municipal Related Taxes on Employees

NONE

Sales Taxes

Combined Sales Tax

	Arkansas State Sales Tax: 6.0% on non-food items / 3.0% on grocery items
	City Sales Tax: 1.0%
	County Sales Tax: 1.0%
	TOTAL: 8.0%  /  5% on grocery items

Arkansas State Taxes

Taxes levied by the State of Arkansas include the following:

	Corporate and Personal Income Tax
	Sales and Use Tax
	Unemployment Insurance Tax
	Corporate Franchise Tax
	Capital Gains Tax Reduction
	Property Tax

For details, please visit the Arkansas Department of Economic Development Website at:  www.arkansasedc.com