Legislative Update- Arizona Homeowner’s Rebate Affidavit

For those of you that have been following the various articles and warnings on the impending Homeowner’s Rebate Affidavit may have noticed when they received their property valuation notice that no such affidavit was present. As you may recall, the affidavit provision was part of last year’s “Jobs Bill,” which required homeowners to return the affidavit declaring that the property is the homeowner’s primary residence. If the homeowner failed to do so, the property would automatically be reclassified as Class 4 property and their taxes would go up as much as $600/year.

Two bills moving through the legislature, HB 2486 and SB 1217, are the primary reasons the affidavit has not been sent out this year, as required in current law. As stated by Tom Farley, CEO of the Arizona Association of REALTORS®, “Our advice to homeowners right now is to sit tight. We’re hoping this provision from last year’s law will be repealed and a more targeted notice will be put in its place.” Both bills, which are now identical, made significant progress through the legislature this week. On Monday, HB 2486: Homeowners’ Rebate Affidavit, sponsored by Representative Steve Court, was voted on in Third Read in the House of Representatives and received a unanimous vote in favor of the bill from the members present. The bill has been transmitted to the Senate where the process will once again be repeated.

Only a half hour after the successful vote on HB 2486, the House Ways and Means Committee heard testimony on SB 1217: Class Three Property Tax; Affidavit, sponsored by Senator Andy Biggs. Due to the fact that the members present had just voted on an identical version of this bill, SB 1217 sailed through committee. The next stop for this bill will be House Rules Committee, Caucus and then Third Read.

The bills in current form would eliminate the current affidavit requirements and establish that the county assessors are required to mail a notice every four years (beginning in 2013) to each Class 3 property owner if the owner has a mailing address outside the county in which the property is located, has a mailing address that is different than the situs address or property (excludes post office boxes), has the same mailing address listed for more than one parcel of Class 3 property, or appears to be a business entity.

** Reprinted from Arizona Association of Realtors Online

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