The bill amends Arkansas property assessment laws by eliminating the requirement for property owners to list or report personal property subject to taxation. It modifies Arkansas Code 26-26-201(a)(2)(A) by replacing "listed for assessment" with "assessed," which signifies a change in how property assessments are documented. Additionally, the bill repeals several sections that imposed penalties for failing to list personal property, including the requirement for property owners to pay extra fees for delinquent assessments. The legislation aims to simplify the property tax assessment process and lessen the administrative burden on property owners.

Moreover, the bill introduces new provisions that clarify the responsibilities of county assessors and streamline the assessment process for real property, while shifting the assessment responsibilities for personal property away from property owners. It mandates that personal property owned by churches and used for non-religious purposes be assessed annually and requires merchants, manufacturers, utilities, and carriers to accurately assess and report their property. The bill also establishes that these changes will take effect for assessment years beginning on or after January 1, 2026.

Statutes affected:
HB 1911: 26-26-201(a), 26-26-201(d), 26-26-307(b), 26-26-502, 26-26-701, 26-26-714, 26-26-901, 26-26-902, 26-26-1114, 26-26-903, 26-26-906, 26-26-904, 26-26-905, 14-164-701, 26-26-908, 26-26-909, 26-26-910, 26-26-911(a), 26-26-914, 26-26-1113, 26-26-1202(c), 26-26-1202(e), 26-26-1203(b), 26-26-1204, 26-26-1205, 26-26-1203, 26-26-1602(b), 26-26-1603(a), 26-26-1608, 26-26-1611(1)