Arizona Homestead Exemption 2024. The arizona homestead exemption is designed to protect homeowners by allowing you to shield up to $400,000 of equity from creditors. That amount increased to $400,000 in value on january 1, 2023 and will increase annually based on cost of living, per the details of proposition 209.
In may governor ducey signed into law a measure that will increase arizona’s homestead exemption from $150,000.00 to $250,000.00. The new law increased the amount of arizona’s homestead exemption from $150,000 to $250,000.
The Primary Changes To The Homestead Exemption, Which Went Into Effect On December 31, 2021, Include The Following:
Arizona’s current homestead protection law affords homeowners the right to shield $150,000.00 of equity from creditors.
House Bill 1019 Could Increase The State Homestead Exemption By As Much As $10,000.
Single is 65 or older:
What Is The Homestead Exemption?
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Let’s Get Into The Numbers.
A person, or married couple, may only claim one homestead exemption and must reside in the dwelling for which the exemption is claimed.
What Is The Homestead Exemption?
The primary changes to the homestead exemption, which went into effect on december 31, 2021, include the following:
