Opinion No.

The Honorable Tim Wooldridge State Senator Post Office Box 339 Paragould, AR 72451

Dear Senator Wooldridge:

I am writing in response to your request, posed on behalf of the Senate and House Interim Committees on Revenue and Taxation, for my expedited opinion on two questions arising from the following reported facts:

This request involves § 1(b), § 1(c) and § 1(d) of Amendment 79 to the Arkansas Constitution and Ark. Code Ann. § 26-26-1120. Ark. Const. amend. 79, § 1(b) provides that the assessed value of parcels that are not a taxpayer's homestead are subject to a 10% annual cap on the increase…