A motor vehicle that is subject to a lease of at least twelve (12) months by a city or town of this state is public property used exclusively for public purposes and is exempt from ad valorem taxation.
Structure Arkansas Code
Subtitle 1 - General Provisions
Chapter 3 - Property Subject to Taxation and Exemptions
Subchapter 3 - Exemptions from Taxation
§ 26-3-301. Property exempt from taxes generally
§ 26-3-302. Intangible personalty
§ 26-3-305. Nonprofit waterworks
§ 26-3-306. Disabled veterans, surviving spouses, and minor dependent children — Definition
§ 26-3-308. Property owned by State Highway Commission or the Arkansas Department of Transportation