Opinion No.

Debra Asbury, Director Arkansas Assessment Coordination Department 1614 West Third Little Rock, Arkansas 72201-1815

Dear Ms. Asbury:

I am writing in response to your request for my opinion regarding several questions you have posed regarding assessment of real property in the wake of its transfer by sale. Specifically, you have asked the following:

ACA 26-26-1123(a) provides that when a person (any person) sells his or her real property the assessor shall assess the property at 20% of appraised value at the next assessment date after the transfer. Subsection (b) provides that the owner (any…