FAYETTEVILLE, Ark. — Homeowners across the country are experiencing higher than normal property tax bills. Parts of Northwest Arkansas are experiencing the same thing. Many say they are receiving bills higher than ever.
The reason for the increase in property tax is because of Northwest Arkansas’ booming housing market. More people are beginning to move to the area causing an influx in property value and taxes.
“Your property value in some cases have doubled in value,” said Washington County Assessor Russell Hill.
Homeowners in Washington County are seeing an increase after an appraisal was conducted raising the property value. The last time an appraisal was conducted in the county was in 2015.
Hill says the county has seen an uptick in bills.
“We saw an average of a 48 percent increase countywide,” Hill said. “Now, some were higher, some were lower depending on that particular piece of property.”
Hill says the amount of increase each homeowner is expected to see will fluctuate.
“There are some folk that I talked to personally, theirs went up, theirs increased by a thousand dollars,” Hill said.
The next time Washington County will conduct an appraisal is in 2023.
However, Washington County is not alone in seeing an increase in property value and taxes. Benton County is in the middle of its appraisal and is expected to have an increase due to the booming housing market.
Each county in the state of Arkansas is directed to conduct appraisals every few years.