Homestead Exemption For Seniors In Phoenix
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FAQ
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.
Here's what we cover: A person's homestead is exempt from attachment, execution and forced sale by creditors, up to $400,000. Here are the rules pertaining to the state's homestead exemption (based on Proposition 209 approved by voters in November 2022 and which went into effect on December 5, 2022).
The Senior Property Valuation Protection Option (Senior Freeze) is available to residential homeowners, 65 years of age or older, who meet specific guidelines based on income, ownership, and residency (Arizona Constitution, Article 9, Section 18.)
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 Arizona homestead exemption is automatic, meaning that no written claim is required. If a person desires to waive the exemption, the person must record the waiver in the office of the county recorder.
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.
Social Security income is not taxed. Withdrawals from retirement accounts are fully taxed. Wages are taxed at normal rates, and your marginal state tax rate is 2.50%. Public and private pension income are partially taxed.
Exemption Application: An Affidavit of Individual Tax Exemption (Form 82514) must be filed with the County Assessor annually Failure to file for an exemption will result in loss of eligibility for that year (2025). Applicant filing period for 2025 is January 2 to March 1.
The Senior Valuation Protection Option freezes the property valuation of residential homeowners who are 65 years of age or older if they meet specific qualifications and make application to the County Assessor. The valuation freeze is for three years and may be renewed at the end of the third year.
