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General Tax Information
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Persons living in
Booneville, Logan County, or anywhere in Arkansas pay taxes to
various governmental entities at the federal, state and local
levels. These include, but are not limited to fuel, property,
and sales & use taxes.
All political subdivisions
in Arkansas (including counties, cities and school districts)
are authorized by state law to impose taxes on real property
and personal property. Real property includes items such as
buildings or land; personal property includes items such as
automobiles, equipment, and ATVs. Local county tax assessors
and collectors calculate and collect all personal and real
property taxes. Personal property MUST be assessed each year
before May 31.
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The Booneville Development Corporation Does
Not Assume Any Liability On The Accuracy Of These Tax Rates
For Complete Descriptions & Rates, Please
Visit The Arkansas Department Of Finance & Administration Web
Site At
http://www.arkansas.gov/dfa/income_tax/tax_general_moving.html
Or Call The
Logan County Tax Assessors Office At (479) 675-3942 |
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Arkansas State Tax Rates |
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Sales Tax is
also applied to the sale of new and used motor vehicles,
trailers, semi-trailers, airplanes and mobile homes.
All Motor Fuel Tax revenues generated are used to maintain
Arkansas roads and highways. |
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Logan County Tax Rates |
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Sales & Use Tax |
State Sales Tax + 1% |
General Fund |
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City of Booneville |
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Sales &
Use Tax |
State
Sales Tax + County Sales Tax + 2% |
1% Booneville Services
Expires June 30, 2010
20% City Improvements
20% Street Maintenance
13% Police Protection
10% City Parks
10% Fire Protection
8% Senior Citizens Center
7% Airport
5% City Cemetery
4% Economic Development
3% Public Library |
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City of Magazine |
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Sales & Use Tax |
State
Sales Tax + County Sales Tax + 1% |
Fire Protection |
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Property Tax Rates |
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Real estate property is assessed at 20 % of
the "true market value". Agricultural and forestlands,
however, are assessed based on their "use" value rather than
market value. The tax due is calculated as the assessed value
times the local millage rate. For example, property with
a market value of $38480 would be assessed at $7696. With a
51.5 millage, rate the tax would be $396.55 ($7700 x 0.0515).
Personal property (vehicles, equipment,
certain inventory items) is assessed based on its estimated
selling price. The State of Arkansas categorizes personal
property equipment and assigns a standard depreciation ,
depending on the use of the equipment. For example, a company
might have a piece of equipment that was purchased for
$200,000, and was now 10 years old. If the State's
depreciation rate categorized that equipment at 0.25 at 10
years, he assessed value would be $10,000 (Purchase price x
categorized depreciation x 20%). With a 51.5 millage rate, the
tax would be $515 ($10,000 x 0.0515) for that year.
Inventory can be taxed as property under certain conditions.
Please contact the Logan County Assessors Office at (479)
675-3942 for specifics. |
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Booneville City
District |
51.50 mills |
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Booneville Rural
District |
48.10 mills |
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Magazine City
District |
45.4 mills |
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Magazine Rural
District |
42.9 mills |
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