TAX RATES

Income

  • 0.9 – 7% personal (tax year beginning January 1, 2014)
  • 0.9 – 6.9% personal (tax year beginning January 1, 2015)
  • 1.0 – 6.5% corporate

Sales and Use

  • ​City of Hot Springs………..1.5%
  • Garland County……………1.5%
  • State of Arkansas……..….6.5%
  • Total……………………………9.5%

Property

  • Jessieville……………..……0.0376
  • Lake Hamilton…………..0.0483
  • Hot Springs……………….0.0413
  • Lakeside……………………0.0393
  • Fountain Lake………..…0.0384
  • Cutter Morning Star…..0.0431
  • Mountain Pine…………..0.0465
  • No state property tax, local tax based on school districts

Low Cost of Living

Hot Springs offers a high quality of life with living expenses lower than the national average. Hot Springs’ cost of living is 14.82% lower than the national average. The median household income is $44,743. Not only is Hot Springs a great place to call home, but it is also an affordable answer for the needs of families and businesses.