Ark. Code Ann. § 14-124-115: Levy of tax - Limitation on rate

(a) The board of directors or commissioners shall annually, at a regular meeting or at a special meeting called for that purpose, levy a tax on the benefits as assessed and equalized by the board of assessment and equalization.

(b) The rate of the tax shall be subject to the limitation, for the equal protection of all classes of property, that the tax on rural lands according to the rate shall not exceed two dollars and fifty cents ($2.50) per acre.