Property Tax on Loch Lomond: Benton County Math

How Arkansas Property Tax Works

Arkansas is one of a small number of states that assesses residential property at a fraction of market value by state law. Under Arkansas code, all real property is assessed at 20% of its appraised fair market value. This is not a discount -- it is the definition of the assessed value that all millage rates are then applied to. So when Benton County appraises your Loch Lomond lakefront at $750,000, your assessed value for tax purposes is $150,000. The millage rate is then applied to that $150,000, not to $750,000.

One mill equals $1 of tax per $1,000 of assessed value. A rate of 46.8 mills on a $150,000 assessed value produces $7,020 in annual taxes before any credits or exemptions. Add county levies, city levies, and library district mills, and the total can run higher for specific parcels.

Benton County's median effective property tax rate on market value runs approximately 0.70%, according to Ownwell's 2025 analysis of county records. That is well below the national median of approximately 1.02%, and below Arkansas's state median of 0.81%. By percentage, Benton County is relatively low. The dollars at Loch Lomond prices are not small.

Bentonville School District Millage

Most properties immediately surrounding Loch Lomond in Bella Vista fall within the Bentonville School District, which is by far the largest component of the total millage rate. Bentonville School District ran at 48 mills until a county-wide property reappraisal in 2024 found assessed values had increased from $2.7 billion to $3 billion within district boundaries, triggering a mandatory rollback. The board unanimously approved rolling the rate back to 46.8 mills in October 2024. Homeowners saw this change reflected in spring 2025 tax bills.

The Bentonville ballot presents the millage rate for voter approval annually by law. The current 46.8 mills allocates approximately 25 mills to general operations (the state-required minimum), 2 mills to transportation and technology, and the remainder to debt service. When you vote in Bella Vista, you are partly voting on this rate.

Some western sections of Bella Vista fall within the Gravette School District rather than Bentonville. If you are looking at properties near the western edge of the community, confirm which school district governs your specific parcel -- the millage difference matters and will affect your total tax bill.

Benton County and City Levies

Beyond school district millage, your property tax bill in Bella Vista includes:

• Benton County general levy: funds county services including the assessor, collector, courts, and county road maintenance
• City of Bella Vista levy: funds municipal services; Bella Vista incorporated in 2007 and has its own budget separate from the POA
• Library district: Benton County library levy
• Any applicable fire or special district levies

The combined effect of these additional levies typically pushes the total millage rate for Bella Vista properties to approximately 54–60 mills for Bentonville SD parcels. At 56 mills on a $150,000 assessed value, the bill lands at $8,400/year. The precise number depends on which specific taxing districts serve your parcel -- this is why the Benton County millage-and-tax calculator (available at bentoncountyar.gov) and the Benton County Assessor are the authoritative sources for your specific address.

Worked Examples at Loch Lomond Price Points

Using a combined rate of approximately 56 mills (Bentonville SD + county + city + library) and Arkansas's 20% assessment ratio:

• $450,000 lake-view home: assessed value $90,000 → ~$5,040/year
• $600,000 lakefront home: assessed value $120,000 → ~$6,720/year
• $750,000 lakefront with dock: assessed value $150,000 → ~$8,400/year
• $1,000,000 premium lakefront: assessed value $200,000 → ~$11,200/year
• Vacant lakefront lot at $200,000: assessed value $40,000 → ~$2,240/year

These are illustrative figures using the estimated combined millage. Your actual bill may differ. The Benton County Collector's office publishes current millage rates and operates an online tax calculator. Always verify using your specific parcel number and the current millage table before making financial projections.

What Happens at Sale: The Reassessment Reset

This is the detail that surprises more buyers than any other in Arkansas real estate. When a property changes hands, Arkansas law requires the county assessor to reassess the property at 20% of its full market value at the next assessment date after the transfer. The new owner is not entitled to carry forward the prior owner's assessment limitations until the second assessment date after the transfer.

What this means in practice: if you are buying a Loch Lomond home from a long-time owner who qualified for a senior freeze years ago, their tax bill may be based on an assessed value established a decade ago. Your tax bill will reset to current market value. If the prior owner was paying $3,200/year on a home now worth $650,000, you will pay closer to $7,280/year starting in your first full assessment cycle. This is not a surprise the title company will tell you about unless you ask. Model your post-purchase tax bill based on the current market value of what you are buying, not on the prior owner's tax history.

Senior Exemptions: Amendment 79 and the Freeze

Arkansas Amendment 79 provides one of the more powerful property tax benefits available to seniors in any state. Homeowners aged 65 or older -- or fully disabled Social Security recipients of any age -- can have the assessed value of their primary residence frozen at the current level. Once frozen, the assessed value does not increase as the market rises, even if comparable properties in the neighborhood sell for significantly more.

The freeze applies to assessed value, not millage. If new school bonds or other levies pass after the freeze is in place, the dollar amount of taxes can still increase even on a frozen value. But the compounding reassessment cycle is stopped, which over a decade of appreciating Bella Vista real estate can represent substantial savings.

The freeze must be applied for with the Benton County Assessor. You will need documentation: driver's license or birth certificate for age verification, or Medicare card or Social Security award letter for disability. The freeze attaches to the individual, not the property -- if the property is sold and reacquired, it resets. If you add substantial improvements to the home, the improvement value may be assessed separately.

For retirees planning to settle permanently on Loch Lomond, the Amendment 79 freeze is worth understanding in detail before you buy. Establish it early and it can significantly reduce long-term ownership costs.

Homestead Credit

Arkansas also offers a homestead credit that reduces the assessed value of a primary residence by $3,500. This is a separate benefit from the senior freeze and applies to all primary-residence homeowners regardless of age. On a $150,000 assessed value at 56 mills, a $3,500 assessed-value reduction saves approximately $196/year in taxes. File the application with the Benton County Assessor -- it is not automatic.

When to Verify, and How

Property taxes on Loch Lomond are due annually, with Benton County historically setting the October 15 deadline. Properties with delinquent taxes are subject to penalty and eventually tax lien sale -- the collector's office at bentoncountyar.gov accepts online payments and publishes delinquent lists. Before you close on any property, confirm the current tax status through the Benton County Collector and request a title search that includes any outstanding tax liens. The title company handles this in a standard transaction, but ask specifically for confirmation that the prior owner's account is current.