Arkansas lawmakers to consider increasing homestead tax credit

KUAR | By Hunter Field / Arkansas Advocate

The Arkansas Legislature is poised to increase the state’s homestead tax credit; the question: How much?

House Bill 1032 by Rep. Lanny Fite (R-Benton) would increase the Homestead Property Tax Credit from $375 a year to $425 in 2024.

Fite explained his bill last week to the House Revenue and Tax Committee, but he plans to wait to ask for a vote on the bill until after Gov. Sarah Huckabee Sanders’ office reviews it.

https://www.ualrpublicradio.org/local-regional-news/2023-01-30/arkansas-lawmakers-to-consider-increasing-homestead-tax-credit

Gerry Broome/AP

New homes under construction in Mebane, N.C., in January 2022.