Bill > HB2973

This bill amends Arizona law to significantly increase the income limits for property tax exemptions for widows, widowers, and individuals with total and permanent disabilities. Specifically, the income threshold for those without dependent children under eighteen or disabled children residing with them will rise from $34,901 to $135,000, and for those with such dependents, it will increase from $41,870 to $150,000. These changes aim to make the property tax exemption more accessible to a broader range of individuals by adjusting for inflation and cost of living, with "income from all sources" defined to include adjusted gross income, capital gains, nontaxable strike benefits and interest, and certain retirement payments, while excluding public assistance, social security, unemployment benefits, veterans' pensions, workers' compensation, and gifts.