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Thursday, November 21, 2024

Higher property tax revenue in Arkansas during Q2

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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 $523 million in property taxes during the second quarter, a 189% increase over the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $181 million.

Overall, Arkansas collected $3.8 billion in combined tax revenues in the second quarter, an increase from the $2.7 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.

Q2 Arkansas Tax Collections
Type of TaxAmount (millions)
Property Taxes$523
Sales and Gross Receipts Taxes$1,854
Income Taxes$1,214
License Taxes$132
Other Taxes$47
Source: U.S. Census Bureau

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