Brothers and Co-Workers:
Arizona voters in November passed a tax relief measure for lower income seniors. The new property valuation protection option allows qualifying home owners to freeze the assessed valuations on their primary dwellings, thereby limiting future property tax increases.
The provision affects Arizonans age 65 and over who have lived in their homes for at least two years. It's restricted to single seniors with incomes up to $25,440 or couples who earn no more than $31,800, with the amounts subject to future increases. All income counts against these thresholds, including Social Security.
You can request an application by calling the Assessor's Office at 602-506-3406 or you can download it at www.maricopa.gov/assessor on the internet.
A key date to file the application is September 30. Although forms can be submitted later, people who miss the cutoff won't have their valuations frozen until next year, when it is estimated that county valuations will have risen 14% on average.
If you are 65 now and you qualify, a program like this could cut your tax bill by over half by the time you reach 80. We know this doesn't come under Moose Government relations but it is part of our service to the Association that we report what will affect our members.
All the best and fraternally,
Rich Richards, Az. Gov. Relations Chairman
