finance

Arkansas Homestead Credit and Amendment 79

Under Amendment 79 and Ark. Code §26-26-1118, a registered homestead receives a credit against real property taxes, up to $500 under current rules with an authorized increase to up to $600 beginning with 2026 tax bills. The owner registers with the county assessor, and only one credit per owner per year is allowed. Amendment 79 also caps assessment increases after reappraisal at 5% per year for homesteads and 10% for other property, and owners 65 or older or disabled may freeze homestead assessed value.