November 18 Brings Key Decisions For Texarkana, Arkansas Property Owners

There is a special election in Texarkana, Arkansas on Tuesday, November 18. There are three proposals to vote on. If you are a property owner in Texarkana Arkansas, this could affect you.

The City of Texarkana, Arkansas, wants to fix roads and drainage in our area but to do so they need to borrow about $47 million to pay for all the street repairs.

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These are big repairs to roads not just a patch here and there. This would also include better drainage for the roads that tend to flood during heavy rains.

How Will Texarkana, Arkansas, Pay For Road Improvements? Raising Property Taxes

To borrow this money, the city is asking voters to approve a special property tax rate. They are asking for a total of 5 mills on your property tax.

Right now, it is set at 2.5 mills, they want to replae that with 5 mills, so the actual increase would be 2.5 mills if the bond passes.

This property tax increase is what will pay for $47 million bond.

What is a Mill and How Much Would Texarkana, Arkansas Property Taxes go up?

One Mill is 1 dollar of tax for every 1,000 dollars of your property's Assessed Value.

In Arkansas, that tax is applied to 20% of your home's market value, known as the Assessed Value

Currently, at 2.5 mill: If your home is worth $100,000, then your tax is $50, but that will increase to an extra $50 a year. Making the total $100.

If your home is $200,000, then your taxes right now are $100 a year. But with the tax increase, it will be $200 a year.

The bond is split into three separate questions, but they all depend on each other and combine to create the 5-mill tax:

1. Pay Off Old Debt to refinance and pay off the old debt from 2012.

2. Fix Streets

3. Fix Drainage

Where Can I Vote in Texarkana, Arkansas?

Early Voting continues today, November 17, until 4:30 PM at American Legion 525 East Broad Street in Texarkana, Arkansas.

On November 18 polls are open from 7:30 AM - 7:30 PM at

Central Baptist Church - 2117 East 35 Street

Rondo Methodist Church - 2335 North Rondo Road

Sanflat Community Center - 209 East 14th Street

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Sugar Hill Church - 1621 Sugar Hill Road

Corner Stone Baptist Church - 3900 Union Drive

Highland Church of Christ - 1705 Highland Street