177.00.14 Ark. Code R. § 002 Rule 3.26 - Design of Property Record Cards, Rule 3.49 - Maximum Funding For Appraisals of New Construction, Rule 4.04.1a - Purpose, Authority, and Objective of Ratio Study Rules, Rule 5.02 - Uniform Reporting of Delinquent Taxes, Rule 5.03 - Uniform Reporting of County Tax Settlements, Rule 5.04 - Responsibilities of Those Providing Information, Appendix*

• Library: Arkansas Administrative Code
• Edition: 2023
• Currency: Current through Register Vol. 48, No. 12, December, 2023
• Citation: 177.00.14 Ark. Code R. § 002
• Year: 2023

RULE 3.26DESIGN OF PROPERTY RECORD CARDS

The basic design of property record cards by each class must be approved by ACD. The following entries are required (where applicable):

City and Rurban Cards:

Type of Card

Parcel Number

Ownership Record and Description

(Include property address when available)

Sales History

Appraisal Summary

Assessment Summary

Land Record and Computation of Land Value

(Lot size is recommended but not required. However, a breakdown of value per lot should be included)

Review Record

Number of Cards and Card Number

Sketch

All Applicable Data Collection and Valuation Fields

Inspected Date, Inspected By

Entered Date, Entered By

Revisited Date, Revisited By

Rural Cards:

Type of Card

Parcel Number

Ownership Record and Description

(Include property address when available)

Sales History

Appraisal Summary

Assessment Summary

Review Record

Land Record and Computation of Land Value

(Lot size and production capability pricing is required)

Review Record

Number of Cards and Card Number

Sketch

All Applicable Data Collection and Valuation Fields

Inspected Date, Inspected By

Entered Date, Entered By

Revisited Date, Revisited By

Commercial/Industrial Cards:

Parcel Number

Ownership Record and Description

(Include property address when available)

Sales History

Appraisal Summary

Assessment Summary

Land Record and Computation of Land Value

(Lot size and value per lot is required.)

Review Record

Number of Cards and Card Number

Sketch

Property Description Structural Elements

All Applicable Data Collection and Valuation Fields

Inspected Date, Inspected By

Entered Date, Entered By

Revisited Date, Revisited By

Inspected Date refers to the date of initial on-site verification of property characteristics as a part of reappraisal progress, except when a method of technology is allowed by the ACD Rules and Regulations and approved by the county and ACD as a substitute for any on-site inspection tasks. In those cases, procedures and inspection/revisited fields must be clearly defined in the original plan or contract or in an addendum to the original plan or contract. If the date of office analysis is allowed as the inspection date in conjunction with digital imagery, the imagery date must also be available Inspection dates should not change as a result of revisits during the same reappraisal cycle, including return trips for further review or maintenance work. Those dates should be recorded as revisited dates.

Inspected By refers to the appraiser who did the initial on-site verification of property characteristics as a part of reappraisal progress, or the appraiser who did the inspection tasks using approved technology, and it is usually represented by initials or a code. When an appraiser in training or otherwise unqualified in some aspect of data collection is accompanied or followed-up by the qualified appraiser, the less qualified appraiser's initials will appear in the Inspected By field and the qualified appraiser's initials will appear in the Revisited By field.

Entered Date refers to the date of data entry resulting from data collection on the reappraisal inspection date.

Entered By refers to the initials or code of the person who did the data entry needed as a result of data collection on the reappraisal inspection date.

Entered Date/Entered By shall not change with subsequent data entry during the reappraisal.

Revisited Date refers to the date physical characteristics of a property were revisited on-site or by using approved technology.

Revisited By refers to the initials or code of an appraiser who revisited the physical characteristics of a property on-site or by using approved technology.

Additional fields may be used to suit the particular needs of a county, but they must not be used as substitutes for the above required fields.

In addition to the above entry requirements on the property record card, the changed date and changed by code or initials must be available on the computer for all changes made to existing property information.

The deadline for implementation of the above terms and definitions in each county is at the start of the first new reappraisal in that county beginning on January 1, 2009 or thereafter.

Adopted 10/01/99

Amended 12/20/00

Amended 03/03/02

Amended 09/25/08

Amended 07/23/14

RULE 3.49MAXIMUM FUNDING FOR APPRAISALS OF NEW CONSTRUCTION

Adopted 10/01/99

Repealed 07/23/14

RULE 4.04.1aPURPOSE, AUTHORITY, AND OBJECTIVE OF RATIO STUDY RULES

1. Purpose: The purpose of these rules is to ensure that real property in Arkansas is appraised accurately and uniformly in accordance with constitutional and statutory requirements, most notably A.C.A. 26-26-1902 and A.C.A 26-26-304(e)(1).

2. Authority A.C.A 26-26-304 directs the Arkansas Assessment Coordination Department (ACD) to prepare a ratio study by classification for each county and school district in valuation years. These rules set forth the procedures ACD will follow in conducting these studies for properties appraised on a market value standard and the requirements of counties and contractors in assisting ACD in effective completion of such studies References to "counties" in these rules include contractors or vendors who work for or assist counties in the revaluation and assessment process.

3. IAAO Standards A.C.A 26-26-304(a)(3) directs ACD to use generally accepted valuation procedures and techniques found in the International Association of Assessing Officers' (IAAO) standards on ratio studies. As a general matter, both the assessors and ACD should follow IAAO standards in preparing sales for the ratio study and in conducting such studies. These rules are intended to provide specific guidance and requirements for conducting ratio studies in Arkansas consistent with IAAO standards. However, where there may be differences or discrepancies between these rules and IAAO standards, these rules shall control.

4. Property type: Property values must be uniform among and within major property types. The ACD's ratio study of real properties appraised on a market value standard shall utilize the following three major types or classes of property (1) residential properties including multi-family properties with four units or less, (2) vacant land regardless of zoning or probable use, and (3) commercial and industrial properties including multi-family properties with five or more units.

5. Market areas: Property values must be uniform across and within major geographic divisions of a county. Each county shall define major geographic areas, termed "market areas". Each market area shall contain between 1,000 and 20,000 parcels, depending on value patterns and the economic diversity of the county. Market areas can be viewed as groups of neighborhoods in the same geographic area or areas that share similar economic characteristics and price ranges. Smaller or economically homogeneous counties may have a single market area.

6. Technology: The ratio study shall be performed efficiently using modern data processing technology. Counties must submit data to the Department in electronic format in standard formats provided by the Department.

RULE 4.04.1bRATIO STUDY REQUIRED DATES

1. January 31: By January 31 of each year all counties shall submit to ACD an electronic file of all real property appraised (this file will be referred to as the ACD Extract report). This file shall include all deeds for the prior three calendar years The file shall include the following items for each deed: *Parcel number *Property type code - the primary use code of the property. *Market area code. * Neighborhood code - actual neighborhood used in location analysis. * The current land, building, and total appraised values of the property before consideration of value caps, partial exemptions, etc. * The previous land, building, and total appraised values of the property before consideration of value caps, partial exemptions, etc. *The sale date, sale price (with any adjustments to the price noted in the Sales/Ratio comments), sale type (vacant or improved), deed type, deed book, deed page, grantor, grantee, and sales validation code. *Sales/Ratio related comments - comments for sales validation and/or adjustments to sales price (i.e. personal property, financing, etc.). *Tax/School District. * Subdivision name or Section, Township, and Range for unplatted parcels. * The land size and primary unit of measurement (lot, acres, square feet, etc.) * Location Factor. * The occupancy type code, total living area, construction grade, grade adjustment factor, year built (if available), effective age, and remaining economic life of the primary building in the case of residential properties. * The occupancy type code, gross building area, Marshall & Swift construction class code (A, B, C, D, or S), building quality code, quality adjustment factor, year built (if available), effective age, and remaining economic life of the primary building in the case of commercial and industrial...