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Hot Springs
ended 2006 listed as one of ten least
expensive places to live in the
United States
.
Hot Springs
had been ranked just outside the top ten
at 12 overall for most of the year prior
to
ACCRA
’s latest release.
The Index is a calculation of the cost of living for 311 urban areas
across the
United States
. According
to the report,
Hot Springs
also has the lowest cost of living index
of all
Arkansas
metro areas.
Being ranked 8th means a
Hot Springs
resident’s dollar has more buying power
than it might in other places.
Hot Springs
is a cost effective place to do business
and live.
The employees in our area can enjoy
a higher standard of living than they
could if given the same wages in more
expensive places.
Housing
The cost for a new construction home
garage for 2006 was averaged between
$190,000 and $204,000.
The average rental rate for 2006
was $564.
Utilities
(Residential Rates)
Natural
Gas
– CenterPoint Energy
$0.263/ccs
rate per CU/FT (for 1-50 CU/FT)
$0.1847/ccs rate per CU/FT (for 51 CU/FT
and above)
Customer charge: $9.75 per month
The rates per CU/FT change frequently,
please call 800-992-7552 for more
information.
Electricity
– Entergy
The average electric bill using 1,000
KW/HR is estimated for 2006 to be $91.00
per month, excluding taxes & franchise
fees.
This includes the customer charge
. Call 800-368-3749 for more information.
Water
2006 Rates
Within City Limits: $4.22 per first 1,000
gallons
$2.13 per each
additional 1,000 gallons
Outside City Limits: $6.40 per first 1,000
gallons
$3.20 per each
additional 1,000 gallons
Sewer
2005
Rates
Within City Limits: $11.45 per first 1,000
gallons
$2.67 per each
additional 1,000 gallons
Outside
City Limits: $15.95 per first 1,000
gallons
$3.72 per
each additional 1,000 gallons
Sales
Tax
Sales tax is 8.5%
Of that:
6% is a state sales tax, 2%
is a city sales tax and
.5% is a county sales tax. Also,
within the city limits there is a 3%
tourism tax on hotels, motels and
restaurants.
Personal or Individual State Income
Tax
Resident,
individuals, estates and trusts, as well
as non-resident individuals, estates and
trusts deriving income from within the
state are subject to tax on their net
income at the following rates (the first
$6,000 of pensions is not taxed):
First $0
1%
Next
$3,500
2.5%
Next $7,000
3.5%
Next $10,500
4.5%
Next $17,500
6%
$29,200 or over 7%
Personal Property Tax
Garland County collect a property
tax for any domicile, commercial
building, or industrial facility located
within the county at an
effective rate determined by the school
district in which the property
is located. Property is assessed at 20% of
market value. A $300
homestead credit is given to area residents.
School District
Total mills per assessed value
Jessieville
.0361
Lake Hamilton .0374
Hot Springs .0416
Lakeside
.0402
Fountain Lake
.0338
Cutter Morning Star .0386
Mountain Pine
.0395
(inside city limits)
.0345 (outside city limits)
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