Homestead Act For Taxes In Maricopa
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FAQ
If you own a house in Arizona, you may be able to take advantage of the Arizona Homestead Exemption. It protects up to $400,000 of equity in your home (adjusted for inflation). To qualify, you must live in the home as your primary residence.
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.
A homestead exemption protects $400,000 equity in a person's dwelling from attachment, execution and forced sale. A homestead means a dwelling in which a person resides. The dwelling may be a house, condominium, or mobile home.
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.
To claim the Arizona Property Tax Credit all the following must apply: You were a resident of Arizona for all of 2024. You (or your spouse) were either 65 or older or received Title 16 Supplemental Security Income (SSI) payments during 2024.
The homestead exemption provides an exemption from property taxes on a primary residence and protects the value from creditors, and circumstances that arise from the death of the homeowner's spouse. The exemption can't be claimed for another property elsewhere.
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.
Must not have a total household income over $38,600/year if applying in 2024, or $40,000/year if applying in 2025, which includes the Ohio adjusted gross income of the owner and the owner's spouse.
At its core, homestead exemption reduces the taxable value of a homeowner's primary residence, meaning a portion of the home value will not be taxed. This reduction results in lower property tax bills.
