This form is a sample letter in Word format covering the subject matter of the title of the form.
Mortgage Payoff Statement Form For Tax Purposes In Arizona
State:
Multi-State
Control #:
US-0019LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
The counties in Arizona with the highest effective property tax rates are Pima County (0.82%), Yuma County (0.71%), and Cochise and La Paz Counties (0.67%). The counties in Arizona with the lowest effective property tax rates are Coconino County (0.45%), Greenlee County (0.30%), and Apache County (0.30%).
Arizona allows a $4,748 Assessed Value property exemption to Arizona resident property owners qualifying as a widow/widower, or a person with total and permanent disability, or a veteran with a service or non-service connected disability.
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.
This exemption amount is determined annually by the Arizona Department of Revenue per A.R.S. § 42-11127(C). Note: the Statutory Exemption is $248,691 in 2024.
The property owner must be 65 or older. Property must be the owner's primary residence. Owner must have resided in the residence for at least two years. Property owner's annual income must be under $35,184 if one owner or under $43,980 if there are two or more owners.
Outstanding Mortgage Principal. Enter the amount of outstanding principal on the mortgage as of January 1, of the current year. If you originated the mortgage in the current year, enter the mortgage principal as of the date of origination.
Age 65 or older Single or HOH gets an additional $1,950 standard deduction ($1,850 for 2023); $1,550 each age 65 for MFJ, MFS or QW ($1,500 for 2023).
