In Arizona, Seniors who are 65 years or older, and who meet the specific criteria below, can qualify for the Senior Property Valuation Protection Option, which is also referred to as the “Senior Freeze Program.” Under the Senior Freeze Program, a County Assessor will freeze the property tax valuation of a Senior’s primary residence each year. The freeze in the property tax valuation can last up to three years, regardless of market conditions. While the Senior Freeze Program will not eliminate property tax, it will however significantly reduce a Senior’s tax liability, especially over time.
Under Arizona law, the taxable portion of a person’s property tax valuation (the “Limited Property Value” or “LPV”) can go up as much as 5% each year. Under the Senior Freeze Program, this 5% increase in the LPV is halted, and the property tax valuation remains the same. Furthermore, the Senior Freeze Program can be renewed at the end of the third year, and will continue for additional 3 years. This process can go on indefinitely, or until the Senior sells the home, changes residency, or increases their income status.
To qualify for the Senior Freeze Program, a person must meet the following criteria:
- At least one of the owners must be 65 years of age at the time the application is filed.
- The property must be the Primary Residence of the taxpayer. Primary Residence is defined as the residence which is occupied by the taxpayer for an aggregate of 9 months of the calendar year.
- The owner must have resided in the Primary Residence for at least 2 years prior to applying.
- The owner(s) total income from all sources, including non taxable income, cannot exceed $35,280 (for one owner) or $44,100 (for two or more owners).
The Senior Freeze Program is a great way for Seniors to reduce the amount of property tax they pay each year, especially if they are on a fixed income. If you are interested in the Senior Freeze Program and would like assistance applying for this program with the County Assessor, we would be pleased to assist you. As Summer quickly approaches, beat the Arizona heat with the Senior Freeze Program.