What is the Homestead Tax Credit?

Also known as Amendment 79, it was passed by the voters in November 2000 and allows eligible homeowners to receive up to a $425 credit on their real estate tax bill.  Provisions in Amendment 79 will also freeze the current assessed value for taxpayers that are either disabled or 65 years or older.

Do I Qualify?

Only your homestead (your principle place of residence) qualifies you for the Homestead Tax Credit.  This credit will only affect your real estate taxes for the 2000 tax year and thereafter.

What Else Should I know?

The amount of real estate taxes on an eligible homestead may be reduced by up to $425. In the event that a taxpayer’s tax bill is less than $425, there will not be any taxes due for the tax year. In addition, the “remaining credit” shall not be transferred to any other account nor will there be any monetary refunds.

Only ad valorem taxes (general taxes) of a qualifying real estate tax bill are eligible for the credit. Special improvement taxes, timber taxes, or personal property taxes are not eligible for this credit.

If there is a question on the eligibility status of a property, please call the Assessor’s Real Estate Department at (501) 340-6170 or go to Pulaski County Assessor.