The Arizona Assessor's Office offers several protections and programs specifically designed to assist seniors with managing their property taxes. These protections aim to provide financial relief and ensure that elderly homeowners can continue to afford their homes as they age. Key programs include:
Senior Property Valuation Protection Option (Senior Freeze): This program allows eligible seniors to freeze the value of their primary residence for property tax purposes, ensuring that their property taxes do not increase due to rising property values. To qualify, homeowners must meet specific age, income, and residency requirements.
Widow/Widower and Disabled Exemptions: These exemptions offer reductions in property taxes for seniors who are widows, widowers, or individuals with disabilities. The exemption amount varies and depends on specific criteria such as income and the value of the property.
Property Tax Deferral Program: This program allows qualifying seniors to defer the payment of property taxes until the property is sold or ownership is transferred. This deferral can provide significant financial relief by postponing tax payments during the homeowner's lifetime.
Affidavit of Value Exemption: Seniors who are transferring property to a family member, such as through inheritance or as a gift, may be eligible for an exemption from filing an affidavit of value, which can reduce the associated paperwork and fees.
These programs are intended to ease the financial burden on seniors, helping them maintain homeownership and providing stability during retirement. Eligibility requirements and application processes vary, so seniors are encouraged to contact their local Assessor's Office for detailed information and assistance.
