Property Tax

Both the State of Arkansas and the City of Sherwood do not have a property tax; however, Pulaski County does collect property tax, which is the principal source of revenue for funding local public schools, roads, and libraries. Pulaski County property tax rates affecting the City of Sherwood stand at $50.80 per thousand. The tax is calculated based on 20% of the fair market value of real and personal property and the average annual value of merchants' stocks and/or manufacturers' inventories based on millage rates in individual school districts. Business firms and individuals are subject to annual county property tax on all real and personal property.