Property Ownership
Property taxes in Arkansas are paid in:
AAdvance for the current year
BArrears — taxes for the current year are paid the following year✓ Correct
CEqual semi-annual installments in April and October
DMonthly through the lender's escrow account only
Explanation
Arkansas property taxes are paid in arrears. Taxes for the current year are due and paid the following year (typically by October 15 of the year after they accrue).
People Also Study
Related Arkansas Questions
- Arkansas property taxes are paid in arrears. At closing on July 1, how should the current year's property taxes be prorated?Escrow & Title
- Property taxes are paid in arrears in Arkansas. A property sells with a closing date of September 30. The annual taxes are $3,600. How much does the seller owe in prorated taxes?Real Estate Math
- Real property taxes in Arkansas are paid in arrears. This means:Property Ownership
- Real property taxes in Arkansas are paid:Property Ownership
- Annual property taxes are $3,600. The seller owned the property from January 1 through September 30 (closing is October 1, using a 360-day year / 30-day months). How much does the seller owe the buyer in tax proration?Real Estate Math
- In Arkansas, property taxes are assessed as of which date?Property Ownership
- In Arkansas, unpaid property taxes become a lien on the property as of:Property Ownership
Key Terms to Know
Escrow
A neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Study This Topic
Practice More Arkansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arkansas Quiz →