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House committee approves bill to raise homestead tax credit from $500 to $600
Summary
The House Revenue & Taxation Committee approved House Bill 15‑34 to raise Arkansas' homestead tax credit from $500 to $600 per qualifying household; sponsors say the change will affect roughly 708,000 Arkansans and is financed from the property tax relief fund with no general revenue impact.
The House Revenue & Taxation Committee on an apparent voice vote approved House Bill 15‑34, a measure to raise Arkansas' homestead tax credit from $500 to $600 for qualifying households.
Representative Schultz, who introduced the bill, said the change "is to put money back into the hands of hardworking Arkansans" and described the increase as the largest single rise in the state's homestead tax credit…
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