The Arkansas Property Tax Relief Amendment
, also known as Proposed Amendment 59
, appeared as a legislatively-referred constitutional amendment
where it was approved
on the ballot on November 4, 1980
- This amendment relieves and rolls back state property taxes.
| Proposed Amendment 59 (1980)|
| Yes|| 649,307|| 80.97%|
Official results via: Arkansas Secretary of State
Text of measure
The language appeared on the ballot as:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|| A proposed constitutional amendment to reduce the property tax burden upon the taxpayers in this state by establishing procedures to provide for the adjustment or rollback of millage rates whenever assessed value of property in a taxing unit goes up more than ten percent (10%) as a result of a county-wide reappraisal and reassessment of property; to establish procedures for planned reductions in personal property taxes and taxes paid by public utilities and regulated carriers following a county-wide tax reappraisal and reassessment; to provide that lands used for agricultural, pasture, timber, residential and commercial purposes shall be assessed for taxation according to productivity or use; to repeal Section 5 of Article XVI of the Constitution of 1874 to be replaced by a new Section 5 that would authorize the general assembly, by a three-fourths (3/4ths) vote, to establish a method of assessing property in some method other than according to its current market value; and to authorize the general assembly, upon a three-fourths (3/4ths) vote of the members elected to each house, to provide that the valuation of real property actually occupied by its owner as a residence who is sixty-five (65) years of age, or older, may be exempted as a homestead in an amount no greater than the first twenty thousand dollars ($20,000) in value thereof.