Sample Mortgage Statement For Taxes In Maricopa
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FAQ
How are my Property Taxes computed? The Assessed Value divided by 100, times the tax rate (set in August of each year) determines property tax billed in September. The County Treasurer bills, collects and distributes the property taxes.
The property tax is not required to be printed on a 1098, although many mortgage companies print it as a matter of courtesy by finding a blank spot to print "Property taxes $X. XX" (typically near the bottom). If this doesn't appear on the front of your 1098, then look on the back, or even on the second page.
Arizona allows a $4,748 Assessed Value property exemption to Arizona resident property owners qualifying as a widow/widower, or a person with total and permanent disability, or a veteran with a service or non-service connected disability.
Qualifications. Age: At least one property owner must be the minimum qualifying age of 65 at the time of application. Residence: The property must be the owner(s) primary residence. A "primary" residence is that residence which is occupied by the property owner(s) for an aggregate of nine months of the calendar year.
As a senior in Arizona, you may be eligible for a Tax Freeze on the taxable market value of your home. This includes Phoenix's active adult communities, as well as, homes outside of those communities. The intent is to help low-income seniors. Let's explore Arizona senior homeowner's tax relief in more detail below.
Under A.R.S. 42-13301 the LPV is the limited property value of the property in the preceding valuation year plus five percent of that value.
