ADE Director's Communication Memo Form


Memo Number : FIN-09-073

Date Created : 04/27/2009

Attention:

Superintendents
Co-op Directors

Type of Memo: Informational
Response Required: No
   
Section:   Fiscal and Administrative Services - William J. Goff, Assistant Commissioner
Subject:
Forty Percent (40%) Pullback Report

Regulatory Authority:
Ark. Code Ann. 6-20-401 et seq.

Contact Person:
Julie Kreth

Phone Number:
501-682-5059

E-mail:
Julie.Kreth@arkansas.gov

The Arkansas Department of Education (ADE) has completed the 40% Pullback calculation for calendar year 2009 property taxes. The report is attached. The report is also available on the Internet at http://arkansased.org/communications/reports.html.

The assessment data are submitted by each County Clerk in compliance with Ark. Code Ann. 6-20-2202(g)(1). This report will be used in the State Foundation Funding calculation for 2009-2010. The millage data are from the annual millage election held during calendar year 2008 for taxes payable in calendar year 2009. The millage rates have been adjusted for rollback provisions. Rollback data are provided by the Assessment Coordination Department. The 40% Pullback is calculated in compliance with Ark. Code Ann. 6-20-401(4)(B). The 40% Pullback is calculated as follows: the greater of the product of either (assessment x the tax rate which is not pledged to secure bonded indebtedness x 40%) or (assessment x the uniform rate of tax x 40%). Districts that were consolidated or annexed and have not voted a unified millage rate are indicated with an '+'. For the 40% Pullback of the districts, the two calculations are added together.

Requests for additional information should be directed to Julie Kreth in Financial Accountability and Reporting at 501-682-5059.

Attachments:

Back to the Customer List

Copyright 1997 Arkansas Department of Education. All rights reserved.
Department of Education Home Page