1. (a)

   1. (1) To test for rollback in each taxing unit, use the full reappraised real estate value plus personal property value and utility property value.
   2. (2) If the aggregate increase exceeds ten percent (10%) from the previous year, rollback computations must be calculated for each year of the three (3) years in which assessments are added as per Acts 1999, No. 1185.
2. (b) Assessed value on which taxes will be certified for collection (one-third (1/3) value increases as per Acts 1999, No. 1185) shall be used in real estate rollback calculations.
3. (c) In calculating the real estate rollback the first year after reappraisal, the taxing units will be allowed to receive base year revenues plus ten percent (10%) revenue increase or all of newly discovered property increases if they exceed ten percent (10%).
4. (d) In the second and third year after reappraisal the taxing units will consider base year revenues as being the revenues from the previous year assessments for real estate.

5. (e) In the second and third year after reappraisal the taxing units will:

   1. (1) Calculate the zero-base rollback millage; and
   2. (2) Then apply the unused portion of the optional ten percent (10%) increase from the previous year (if any).
6. (f) Real estate rollback will be calculated in all taxing units in the second and third year except in cases where the aggregate increase (full market value increase) from the reappraisal plus newly discovered property does not exceed ten percent (10%) in the first year.

Codification Notes: This section as promulgated prior to codification into the Code of Arkansas Rules provided as follows: "STATUTORY AUTHORITY: A.C.A. 26-26-402 (Acts 1981, No. 848, Section 1; Acts 1997, No. 1300, Section 22) STATUTORY AUTHORITY: A.C.A. 26-26-409 (Act 1981, No. 848 Section 9)" "Adopted 10/01/99"