Sample Letter Payoff Mortgage Statement For Taxes In Pima
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The Senior Valuation Protection Program, as established by the Arizona Constitution and administered by the Pima County Assessor's Office, is designed to freeze the limited property value (the taxable value) of a primary residence owned by qualifying seniors.
Individual and Non-Profit/Organization Exemptions These exemptions are covered under A.R.S. Title 42, Chapter 11 Article 3. Some examples are: qualifying widows and widowers, 100% disabled persons, disabled veterans, qualifying religious organizations and qualifying educational facilities.
Are Seniors in Arizona entitled to some property tax relief? Yes. The relief comes in several forms. First, there is an exemption for widows, widowers and totally disabled persons.
A homestead means a dwelling in which a person resides. The dwelling may be a house, inium, or mobile home. A person's homestead is exempt from attachment, execution and forced sale by creditors, up to $425,200 as of January 1, 2025, with annual adjustments for inflation.
Personal Exemptions are part of the Office's Valuation Relief Programs Division: Personal Exemptions are offered to eligible Widows, Widowers, Totally Disabled Residents or Disabled Veterans with an Honorable Discharge.
1. Property owner (applicant) must be 65 years of age or older. 2. The property must be the primary residence of the property owner and must have lived there for at least 2 years.
The Senior Valuation Protection program enables qualified seniors to have their Limited Value frozen, which is the basis for all property taxes, frozen in 3 year increments to protect against the potential of an increasing real estate market.
Arizona law provides for “freezing” of the current Limited Property Value for future years of all real property and improvements (including mobile homes) of homes owned and occupied by qualifying seniors.
After 16 months, the Treasurer's Office offers a tax lien on the property (February). If the tax lien is not redeemed within three years from the date of the sale, the tax lien purchaser may initiate foreclosure proceedings in an effort to obtain a deed to the property.
