quote:

Originally posted by Johnny 3eagles:
Income tax
Sales tax >9%
Property tax based on assessment
Personal Property tax on vehicles, boats and RVs. (In addition to the sales tax you paid on purchase)

True, but most of these individual taxes are comparatively low.

We have the 3rd lowest personal property taxes in the country. We have the 10th lowest real property taxes. We have the 4th lowest business taxes. And we have the 19th lowest income taxes.

We do rank 17th in highest state and local sales tax rates, though. Most places in AR will be 9.5-10.5%, depending on the exact local sales tax rate.

Still, despite having all those taxes, the total tax burden overall is lower than a number of other states.

Plus our state government is generally a fairly good steward of the money, as far as governments go, and frequently runs surpluses. So further tax increases (outside of any potential local increases) are very unlikely, and there have been talks of state tax cuts lately.

^^^^ I wish they would spend some of that tax money on fixing the state owned secondary roads here in central Arkansas.

If you want to experience financial pain you can move to IL. You can take as much pain as you want.
1. Move to IL.
2. Move to Cook County
3. Move to Chicago

Now realize that the STATE, COOK COUNTY,and CHICAGO are all basically bankrupt and the ONLY way they can continue to raise enough money is to raise taxes and fines.
Texas won't look so bad.

quote:

Originally posted by Johnny 3eagles:
Arkansas has the best system.

Income tax
Sales tax >9%
Property tax based on assessment
Personal Property tax on vehicles, boats and RVs. (In addition to the sales tax you paid on purchase)
And the weather sucks.

I am starting to look at property on the South west corner. Regarding the personal property tax on vehicles, boats, and RV’s, what kind of dollars are we talking about?

quote:

Originally posted by Prefontaine:
I am starting to look at property on the South west corner. Regarding the personal property tax on vehicles, boats, and RV’s, what kind of dollars are we talking about?

On the average car, maybe a couple hundred dollars a year as a very rough guesstimate. But there's no way to tell for sure without more information. It depends on how much your vehicles are worth, and what the property tax rate is for the area of Arkansas in which you want to live.

In Arkansas, personal property tax is applied to 20% of the assessed market value of your vehicles. You're not taxed on the entire market value of your vehicles. So for example, if a car is worth $20,000, then just $4000 of it would be taxable.

Personal property tax rate varies from place to place within the state, as it is based on the local millage set by that specific city, county, and school district. The personal property tax rate itself is usually expressed in "mills", which are 1/10th of a cent. Or, to think of it another way, each mill represents $1 in tax per $1000 in taxable value. Around the state, millage tends to range between the low 40s and the mid 60s.

So let's say the millage in that area that you'd looking is 50 mills. On that $20,000 vehicle, that would be:

$20,000 * 20% = $4,000
50 mills / 1000 = 0.05
$4000 * 0.05 = $200 total personal property tax due that year

They also sometimes save you a step and list the millage in its decimal form, stating it as 0.050 instead of 50 mills.

$20,000 * 20% = $4,000
$4,000 * 0.050 = $200 total


So to get an estimate, you'll need to know the approximate total market value of all your vehicles, and you'll need to look up the millage rate for the area where you're wanting to move. The county collector's website should have the millage available for each tax district in that county. If by "southwest corner" you mean the Texarkana area, that'd be Miller County. Here's millage rates within Miller County, broken down by city, and expressed as decimals:

GENOA 01 .0533
GENOA CITY 1T .0630
GARLAND 04 .0391
GARLAND CITY 4G .0416
FOUKE/BR STAR 15D .0553
FOUKE 15 .0553
FOUKE CITY 15F .0602
TEXARKANA 07 .0452
TEXARKANA CITY 07T .0549

You can then take 20% of the market value of all your vehicles, and multiple it by the millage rate for whatever area you're buying in, to get an idea of what your annual personal property tax will be.

quote:

Originally posted by jhe888:
You know the bargain we made in Texas. No income taxes, but high property taxes.

Pick which way you want to be taxed. Stop complaining.

It depends on what you are complaining about?
I find it down right American to complain and resist ALL taxes.
Taxes are mostly (note: I did not say completely) Government extortion and used to power those in control {tin foil hat off now}.

quote:

Originally posted by armored:
If you want to experience financial pain you can move to IL. You can take as much pain as you want.
1. Move to IL.
2. Move to Cook County
3. Move to Chicago

Now realize that the STATE, COOK COUNTY,and CHICAGO are all basically bankrupt and the ONLY way they can continue to raise enough money is to raise taxes and fines.
Texas won't look so bad.

No kidding. I pay $15k in property taxes in IL and I'm not anywhere near Cook County or Chicago. Then people will say well you don't have personal property taxes. Big deal those are minimal in comparison.

It's insane that with the amount of property taxes we pay this state isn't well funded.

quote:

Originally posted by Prefontaine:
I had to submit my tax information to my accountant this week and scanned in my property tax bill, $5500 now. Fuck me I'm sick of these blood sucking sons of bitches in Texas.

You must not live in a new area with MUD Taxes. I end up with combined property tax bill that is 59% County and 41% MUD.

I don't have kids, but every year I pay:

1.2125% of my home's appraised value for school district taxes

0.1078% of my home's appraised value for the local college.

About 18 months ago, a bunch of parents and school officials got all peeved because voters turned down astroturf for 5 stadiums. In other words, we weren't paying enough money to entertain the kids in a luxurious enough fashion.

---

Ego is the anesthesia that deadens the pain of stupidity

DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer.

I guess that's why there are so many people driving around with DV plates in El Paso. They don't have to pay property tax.

quote:

Originally posted by V-Tail:

quote:

Originally posted by Edmond:

DV plates

Democrat Voter

quote:

Originally posted by 1s1k:
I pay $15k in property taxes in IL and I'm not anywhere near Cook County or Chicago. Then people will say well you don't have personal property taxes. Big deal those are minimal in comparison.

Exactly. My total property tax bill here in AR this year (including both real/house and personal/vehicle property taxes) will be $2261.

That's about $171 on a $16k car, and about $2090 on a $230k house.

So yes, we have one more type of tax, but still pay less tax overall.

Arkansas seems higher than WV in property tax. But also we have 6% sales tax and 6.5% max rate state income tax. The thing about the income tax is you reach the 6.5% max pretty low, like everything over $50,000. Thankfully Governor Justice and others are looking into eliminating, or reducing our income tax.

Yep. Arkansas is pretty good as far as taxes, but there are still other states that are even better/lower. I'm not surprised that West (by God) Virginia is one of them.

You guys are cute with these itty bitty real estate taxes. Come to IL to get screwed.
Currently over $20K in real estate taxes. 2 years to go, then we are out!

quote:

Originally posted by sigseller2000:
You guys are cute with these itty bitty real estate taxes. Come to IL to get screwed.
Currently over $20K in real estate taxes. 2 years to go, then we are out!

Your house must be approaching 1 million then because I know what my house is worth and I pay an also ridiculous $15k. Illinois is a joke with taxes but it’s not like you have a $200k house.

Tax base going up means property values are going up as well right? Sort of a silver lining?

A little St Patrick's Day property tax humor: