The Arkansas Department of Education (ADE) has completed the forty percent pullback calculation for calendar year 2010 property taxes. The report is attached. The report is also available on the Internet at http://arkansased.org/about/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 2010-2011. The millage data are from the annual millage election held during calendar year 2009 for taxes payable in calendar year 2010. The millage rates have been adjusted for rollback provisions. Rollback data are provided by the Assessment Coordination Department.
The forty percent pullback is calculated in compliance with Ark. Code Ann. § 6-20-401(4)(B). It 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 a '+'. For the forty percent pullback of these districts, the two calculations are added together.
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