 In the Arkansas House of Representatives, it is represented by a Republican as well, Laurie Rushing, a real estate broker from Hot Springs.Property tax is assessed by the Hot Spring 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.