Property Ownership
An Arkansas property owner who disagrees with their county assessor's property valuation may appeal to the:
AAREC
BCounty Board of Equalization✓ Correct
CState Circuit Court only
DArkansas Supreme Court
Explanation
Arkansas property owners may appeal their assessment to the County Board of Equalization during the annual equalization period. If still dissatisfied, they may appeal to the circuit court.
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Key Terms to Know
Joint Tenancy
Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
State-Specific Concepts
AREC Regulation
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