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Tuesday, November 12, 2024

Arkansas' Q4 2022 property tax revenue up 428.3% from previous quarter

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Andy Babbitt Arkansas Comptroller at Department of Finance & Administration | Arkansas Department of Finance & Administration

Andy Babbitt Arkansas Comptroller at Department of Finance & Administration | Arkansas Department of Finance & Administration

Arkansas collected $634 million in property taxes during the fourth quarter of 2022, a 428.3% increase over the third quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the third quarter of 2022 was $120 million.

Overall, Arkansas collected $3.4 billion in combined tax revenues in the the fourth quarter of 2022, an increase from the $3 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q4 2022 Arkansas Tax Collections
Type of TaxAmount (millions)
Property Taxes$634
Sales and Gross Receipts Taxes$1,582
Income Taxes$1,011
License Taxes$99
Other Taxes$64
Source: U.S. Census Bureau

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