Lower Taxes If Senior Citizen Owns the Home

Lower Taxes If Senior Citizen Owns Home

  Question: My husband and I purchased a home in Surprise from a senior citizen who was moving to an assisted living facility. During the escrow period we saw the amount of the property taxes on our home. This year we were surprised to see a significant increase in our property taxes although home values in the Surprise area have been relatively stable. When we complained to the County Assessor’s office, they said that the increase in property taxes was because a senior citizen no longer owned the home. Is that correct?

  Answer:  If the senior citizen that sold the home to you met the qualifications for a senior citizen tax-freezing exemption, the property taxes could be lower than for homes of similar value in the community. A buyer purchasing a home from a senior citizen should contact the County Assessor’s office to see if the senior citizen tax-freezing exemption applies.

  Note: There are basically three requirements to qualify for this exemption: (1) The owner is 65 years of age or older; (2) the home must have been the owner’s primary residence for at least two years; and (3) the owner’s annual income must be under $35,184 (single) or under $43,980 (married).

Link to Maricopa County Assessor’s Office

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