Over 33,000 homeowners in Saline County may take advantage of a little more tax credit in 2020. A new law increases the homestead property tax credit amount to $375 per parcel of land, per year, according to the Arkansas Department of Finance and Administration.
A homestead is defined as a dwelling used as the property owner’s principal place of residence. Counties give the tax credit to eligible taxpayers and receive reimbursement from the Treasurer of State using the Property Tax Relief Trust Fund under A.C.A. § 26-26-310.
Republican Senator Jim Hendren of Sulphur Springs sponsored the legislation in 2019. Voters initially approved Amendment 79 in 2000 to enact a $300 credit. That began in 2001, and the amount increased to $350 in 2007.
If you’re a homeowner and you have not applied for the $375 credit, contact the Homestead Credit Department at 501-303-5625.