How Can Arizona Property Taxes Benefit You
When considering where to retire, many seniors look into moving to Arizona for the warm weather and the large number of senior living communities. But most don't know that Arizona also boasts the seventh lowest property taxes in the nation. Retiring in Arizona may turn out to benefit you in ways that you didn’t expect, and property taxes is one of them. Here are just some of the ways that Arizona property taxes can benefit you when you buy ranch land from The Brooks Companies.
Extra Money in Your Pocket
Arizona’s property tax rate is less than one percent, meaning that if you owned a home that was worth $100,000, you would pay less than a thousand dollars in property taxes each year. Most other states would have you paying well over a thousand dollars, so Arizona property taxes can leave you with extra money to save – or spend elsewhere.
Property Tax Credit
A senior who has lived in Arizona for more than a year and is over 65 may be able to qualify for a property tax credit on their annual state tax return. If you earn less than $1,750 per year, you could possibly qualify for a maximum $502 credit. This property tax credit is great for seniors who are receiving supplemental social security payments and need extra money to fund their lifestyle.
Arizona property taxes are a great benefit to all residents, but can especially help those seniors and retirees who reside in the state. Contact The Brooks Companies today at 877-468-9802 for information about our Arizona ranch land or to learn more about property taxes in Arizona.