Ark. Const. art. 16 § 5 Property Taxed According to Value - Procedures For Valuation - Tax Exemptions

• Library: Constitution of the State of Arkansas
• Edition: 2020 Edition
• Currency: Current through the November 2020 General Election

(a) All real and tangible personal property subject to taxation shall be taxed according to its value, that value to be ascertained in such manner as the General Assembly shall direct, making the same equal and uniform throughout the State. No one species of property for which a tax may be collected shall be taxed higher than another species of property of equal value, except as provided and authorized in Section 15 of this Article, and except as authorized in Section 14 of this Article. The General Assembly, upon the approval thereof by a vote of not less than three-fourths (3/4ths) of the members elected to each house, may establish the methods and procedures for valuation of property for taxation purposes, but may not alter the method of valuation s...