No one who lives in Arizona will argue - we have some of the highest property taxes in the country.
The second half of Arizona State Property taxes are due tomorrow, March 1st. And those taxes could get higher.
Why? If you are an investor, a second home owner or a home owner who just wasn't paying attention months ago - your tax bill will increase $600 for each property that you own - unless you fill out the "I certify this home is owner-occupied" card. If you don't, your home wil automatically be considered a rental, and the result - you pay a higher tax fee.
How did this happen? Because of a tiny little provision in a 214 page document that alters tax credits this year for owner-occupied homes of a $600 tax rebate. This is an automatic rebate - and comes from a portion of what you pay for public school taxes. If you rent out your home - it was up to you to notify the assessor's office that the home is no longer owner occupied.
Why the change? Two reasons - one because Arizona businesses were given a $538 million tax cut package - and to offset their credit - homeowners will have to pay higher taxes to make up for the business credit. And two, to catch the people not declaring, or who are unaware that they are suppose to notify that their home is non-owner occupied.
How will the assessor's office notify homeowners of this change? When notices of valuations are sent out. These tiny cards look like they do every year - and unfortunately, they also look like junk mail and the concern is many people will unintentionally toss them and subsequently be taxed.
Can you appeal this if you are "owner-occupied"? Yes. But it is not easy. Here is a link to the Pima County Assessors websites appeal process. So pay attention this time around - as the notices of property valuations will be sent out tomorrow!
This blog is written with my opinions and my opinions are presented with accuracy but not guarantees. Please talk to a professional before making any real estate, financial or agency decisions. Gabrielle Kamahele Rhind - 2014. If you want to reprint parts of this - just email me for my permission: KGCProperties@gmail.com .