Homeowners Getting Extra $100 in Homestead Tax Credit This Year

The Cleveland County School District has proposed a 6-mill tax increase, prompting discussion on ways for property owners to save on taxes. Superintendent Davy King explained that, thanks to recent legislation, Arkansas homeowners will see their homestead tax credit rise from $500 to $600 for 2025, automatically reducing their tax bill by $100 if they already receive the credit. Under the proposed 6-mill increase, someone with property valued at $100,000 would pay about $120, someone with $200,000 about $240 more. The new credit subtracts $100 from the total. Taxpayers over age 65 or disabled can freeze their property’s assessed value, yet will still pay new millage rates based on the frozen valuation.