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Sunday, December 22, 2024

Arkansas sees less property tax revenue in Q3 2023

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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 $122 million in property taxes during the third quarter of 2023, a 76% decrease from the second quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the second quarter of 2023 was $509 million.

Overall, Arkansas collected $2.9 billion in combined tax revenues in the the third quarter of 2023, a decrease from the $3.9 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.

Q3 2023 Arkansas Tax Collections
Type of TaxAmount (millions)
Property Taxes$122
Sales and Gross Receipts Taxes$1,646
Income Taxes$962
License Taxes$106
Other Taxes$56
Source: U.S. Census Bureau

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