Form Dor 82104 - Senior Property Valuation Protection Option Page 2
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2INSTRUCTIONS
SENIOR PROPERTY VALUATION PROTECTION OPTION
Arizona voters approved Proposition 104 in the November, 2000 General Election,
and Proposition 102 in the November, 2002 General Election, thereby amending
the Arizona Constitution. The Amendments provide for the “freezing” of the
valuation of the primary residence of those seniors who meet all of the following
requirements:
1.
At least one of the owners must be sixty-five years of age at the time the
application is fi led. A copy of proof of age must be submitted.
2.
The property must be the primary residence of the taxpayer. For purposes
of this application “Primary Residence” is defi ned as the residence which is
occupied by the taxpayer for an aggregate of nine months of the calendar
year.
3.
The owner must have resided in the primary residence for at least two years
prior to applying for the option.
4.
The owner(s) total income from all sources, including non taxable income,
cannot exceed the amount specifi ed by law.
For an initial valuation protection option application, if the owner meets all of these
requirements and the County Assessor approves the application, the valuation of
the primary residence will remain fi xed for a three year period.
To remain eligible, the owner is required to renew the valuation protection option
during the last six months of the three year period on receipt of a notice of
reapplication from the County Assessor.
The freeze terminates if the owner sells the home or otherwise becomes ineligible.
The property’s valuation will revert to its current full cash value as determined by
the County Assessor in the valuation year in which the sale is completed.
Please be aware that, while the VALUATION will be frozen for as long as the
owner remains eligible, TAXES for the primary residence will NOT be frozen and
will continue to be levied at the same rate that is applicable to all other properties
in the taxing district.
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