Arkansas Administrative Code › Agency 177 - Assessment Coordination Department › Rule 177.00.14-002 - 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*

Current through Register Vol. 49, No. 6, June, 2024
RULE 3.26
DESIGN 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 3.49
MAXIMUM FUNDING FOR APPRAISALS
		  OF NEW CONSTRUCTION
Adopted 10/01/99
Repealed 07/23/14
RULE 4.04.1a
PURPOSE, 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.