Arkansas Code Title 26. Taxation § 26-26-1121. Millage rate rollback--Time of assessment

(a) To determine whether a rollback of millage rates is required under Arkansas Constitution, Article 16, § 14, each taxing entity shall compare the adjusted taxable assessed values of the real and personal property in the current year to the adjusted taxable assessed values of the real and personal property in the preceding year.

(b) To calculate the millage rollback, the adjusted taxable assessed value of the real property in the current year shall be compared to the adjusted taxable assessed value of real property in the preceding year.