Finance

Mission

The Finance Department serves both individual citizens and other city departments while protecting the financial interests of the citizens as a whole. In fulfilling this mission, the Finance Department  pledges to provide accurate, timely information in an objective, cost-effective manner and to provide excellent customer service to all the Finance Department's customers.

Support

We support the administrative activities of the city in an efficient and effective manner. These activities include accounting, financial reporting, debt management, budgeting, cash management, fixed asset management, and administrative policies in all of the above areas.

2022 Annual Comprehensive Financial Report

2023 Annual Budget

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2022 Annual Comprehensive Financial Report

2022 ACFR City of Hot Springs Arkansas 1

Budget Books

View All Books
 

Annual

Comprehensive Financial Reports

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Online Interactive Forms

Claim Form

Hot Springs' Credit Worthiness Report

  1. Build America Mutual Credit Rating: Hot Springs Utilities
  2. Standards & Poor's Credit Rating: Hot Springs Utilities

Current Tax Rate Information

The tax rate for taxable goods and services in Hot Springs (city limits) is 9.5%. Arkansas state law determines what goods and services are taxable.
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The 9.5% sales tax is assessed as follows:​​​
  • State of Arkansas Sales Tax:       6.50%
  • City of Hot Springs Tax:               1.50%
  • Garland County Tax:                    1.50%
Taxes on goods are assessed based on where the consumer takes possession of the goods. Anything bought in or delivered to the City of Hot Springs should have the 9.5% assessed to it. 
The City of Hot Springs Advertising and Promotion Commission has a 3% sales tax that is assessed to the following:
  • Prepared foods
  • Lodging
There is also a 2% tax assessed by the State on the following tourism related items:
  • Lodging
  • Tourist attraction ticketed items
The city charges no additional tax on beer or wine. 
Mixed drinks are charged an additional 10% sales tax by the city and the state also charges an additional 10% plus 4% on mixed drinks. The total tax on mixed drinks is 33.5%.
  • State of Arkansas Sales Tax: 6.5%
  • City of Hot Springs Tax: 1.5%
  • Garland County Tax: 1.5%
  • City of Hot Springs Additional Tax: 10%
  • State of Arkansas Additional Tax: 14%