Property tax is assessed by the Miller County Assessor annually based upon the fair market value of the property and determining which tax rate, commonly called a "millage" in Arkansas, will apply. The rate depends upon the property's location with respect to city limits, school district, and special tax increment financing (TIF) districts. This tax is collected by the Randolph County Collector between the first business day of March of each year through October 15th without penalty. The Miller County Treasurer disburses tax revenues to various government agencies, such as cities, county road departments, fire departments, libraries, and police departments in accordance with the budget set by the quorum court.