Get 140ptc Property Tax Credit 2023-2025

Age: At least one property owner must be the minimum qualifying age of 65 at the time of application. Residence: The property must be the owner(s) primary residence.

Property Tax Refund (Credit) Claim Form -- Fillable Taxpayer's claiming the property income tax credit, may also use this form to claim a credit for increased excise taxes. If you have questions on this form, contact AZTaxHelp@azdor.gov. Download Form 140PTC Information Card (PDF)

Form 140 - Resident Personal Income Tax Form -- Calculating Personal income tax return filed by resident taxpayers.

To be eligible, the applicant must be the 65 or older during the taxable year or must be a recipient of Supplement Security Income (SSI) benefits under the Social Security Act. The individual also must have paid either property taxes or rent during the taxable year. And must have resided in Arizona the whole year.

Form 140ET is used by individuals not required to file an Arizona individual income tax return but qualify to claim the refundable excise tax credit. The maximum credit available for the increased excise tax (Form 140ET) is $100 per household.

As for the property tax credit, individuals may qualify for a credit if they were residents of Arizona the entire year and meet all of the following criteria: Paid property taxes or rent on a main home in Arizona during the tax year.

As for the increased excise tax, Arizona law provides qualified taxpayers a state income tax credit to be applied against increased excise taxes imposed by county governments. The credit is available each year and depends on the taxpayer's income.

Receive a dollar-for-dollar tax credit on your AZ state return, up to $400 for individuals and $800 when filing jointly.