Request Line: (870) 277-1080 [email protected]
Text Your Gift to KLEK1 to 44-321 LEARN MORE

Your Community Radio Station is possible thanks to this supporter!  Become an underwriter.

Governor Hutchinson Announces Support For Increase in Homestead Tax Credit

Written by Press Release

April 16, 2018

To view this email online, paste this link into your browser: t.e2ma.net/message/hjawsd/l6umiab

Governor’s Office | State Capitol | 500 Woodlane Street, Suite 250 | Little Rock, Arkansas 72201
FOR IMMEDIATE RELEASE:
April 16, 2018
Governor Hutchinson Announces Support  For Increase in Homestead Tax Credit Legislation Would Raise Credit to $375
LITTLE ROCK – Governor Asa Hutchinson announced Monday he will support legislation in 2019 to increase the state’s Homestead Property Tax Credit to $375, providing additional tax relief for Arkansas homeowners.
“Our state property owners deserve a break, and with our state’s strong financial performance, we can afford to give them one,” Governor Hutchinson said.
The proposal would increase the tax credit from $350 to $375. The state reimburses counties for the costs of these credits, using funds deposited in the Property Tax Relief Trust Fund. Money deposited in this fund can be used only for tax relief. The balance in this fund was $78 million at the conclusion of the 2017 fiscal year. Combined, the increased tax credit will save Arkansas homeowners an estimated $18 million annually.   “Any idea that allows us to put money back in the hands of Arkansas taxpayers is a good idea,” Governor Hutchinson said. “The DFA analysis demonstrates this is a sustainable plan. I am pleased that we have found yet another way to make life easier for Arkansans. I am confident the General Assembly will approve this idea so that we can quickly move forward in 2019.”
At a meeting in February, the Association of Arkansas Counties asked the governor to consider the increase. A Department of Finance and Administration analysis done at the governor’s request determined that the Property Tax Relief Trust Fund could accommodate the increased tax credit.

0 0 vote
Article Rating

Related Articles

Bradbury Art Museum to Present Exhibition, ‘Star Children’

Bradbury Art Museum to Present Exhibition, 'Star Children' 02/26/2021 JONESBORO – "Star Children" will open in Bradbury Art Museum (BAM) at Arkansas State University Thursday, March 4, and it concludes Read more

FINANCE & ADMINISTRATION COMMITTEE MEETING ON TUESDAY, MARCH 9, 2021 AT 4:00 P.M.

The agenda for the Finance & Administration Committee meeting scheduled for Tuesday, March 9, 2021 at 4:00 p.m. is posted on our calendar. Original article source: https://www.jonesboro.org/CivicAlerts.aspx?aid=1184 | Article may Read more

Game Notes: A-State at Abilene Christian

Story Links   ARKANSAS STATE (0-4)at Abilene Christian (5-3)Fri. March 5 • 6:05 PM / Sat. March 6 • 4:05 PM / Sun. March 7 • 1:05 PM. Crutcher Scott Field 95. Read more

Northeast Arkansas NYIT COVID-19 Vaccine Event Now Open to Food Manufacturing Employees

03/02/2021 Release courtesy of NYIT College of Osteopathic Medicine at A-State For more information, contact Casey Pearce of NYITCOM at A-State at 870-882-9954. JONESBORO, AR – Arkansas Governor Asa Hutchinson Read more

Comments

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Your Community Radio Station is possible thanks to this supporter!  Become an underwriter.

Pin It on Pinterest