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Article: In search of equalization. (taxing personal property )
- Article from:
- Arkansas Business
- Article date:
- June 3, 1991
- Author:
CopyrightCOPYRIGHT 1991 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In Search Of Equalization
Personal Property Worth Millions Draws Scrutiny In a Balancing Act Of Taxes
Amendment 59, approved by the voters in November 1978, focused statewide attention on real property taxes and the inequities of appraisals on land and buildings vs. personal property.
Things were so skewed on the real property side of valuations that a statewide reappraisal was ordered.
That's understandable when a car dealer is screaming that his $2-million inventory of street machines (personal property) is carried on the county tax rolls at a higher value than a $2-million office building (real property) down the road.
To ...