(a) The board may, not more often than one (1) time a year, require the assessor to reassess the benefits in the district. However, in the event the district shall have incurred any indebtedness or issued bonds, the total amount of assessed benefits shall never be diminished.
(b) The reassessment shall be made, advertised, and equalized in the same manner as provided in this subchapter for making the original assessment.
Structure Arkansas Code
Subtitle 5 - Improvement Districts Generally
Chapter 94 - Municipal Property Owners' Improvement District Law
§ 14-94-102. Legislative intent
§ 14-94-105. Petition to form district
§ 14-94-106. Hearing on petition and determination
§ 14-94-107. Board of commissioners generally
§ 14-94-108. Removal of board members
§ 14-94-109. Planning by board
§ 14-94-110. Powers of districts generally
§ 14-94-112. Right of eminent domain
§ 14-94-114. Priority of cases
§ 14-94-115. Assessment of benefits and damages
§ 14-94-116. Filing and notice of assessment — Hearing
§ 14-94-119. Interest on assessment
§ 14-94-120. Extension and collection of taxes
§ 14-94-121. Subsequent levies
§ 14-94-122. Payment of taxes — Enforcement
§ 14-94-123. Negotiable notes, bonds, or evidence of debt
§ 14-94-125. Payment of bonds and interest
§ 14-94-126. Dissolution of district