LITTLE ROCK, Ark. (AP) The Arkansas House has approved a proposal to raise
the property tax credit that thousands of homeowners receive for their primary
residence.
The House on Thursday voted 89-0 for a bill that would raise the homestead
property tax credit from $350 to $375. Republican Gov. Asa Hutchinson last year
called for increasing the credit, citing a surplus in the fund that reimburses
counties for it.
Online records indicate Representatives Nelda Speaks of Mountain Home, Jack Fortner of Yellville, John Payton of Wilburn, Michelle Gray of Melbourne and Marsh Davis of Cherokee Village were among the 91 supporting the bill.
The credit is funded by a one-half cent statewide sales and use tax. The tax
credit was established through a constitutional amendment approved by voters in
2000 and was raised in 2007 by Hutchinson’s Democratic predecessor, former Gov.
Mike Beebe, from $300 to $350.
The measure now heads to the Senate.
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