How many homestead credits can I have?

A property owner may claim only one property tax credit (homestead credit) in the state of Arkansas. Anyone discovered to be receiving the credit who does NOT qualify or who files a fraudulent application to receive the $350 property tax credit, must repay the $350 credit for each year it was received, plus a 10% penalty for the years 2000 and 2001; a 100% penalty for 2002 through current tax year.

The Ashley County Tax Collector will be sending a revised tax statement to the owner of record of the property in question, for the $350 property tax credit plus interest for all the years that the credit was received.