The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
42-17311 - Events requiring payment of deferred tax
42-17311. Events requiring payment of deferred tax
A. The total amount of deferred property taxes, plus interest and costs, that has accrued with respect to a tax deferred residence is due and payable if:
1. The individual who claimed the deferral dies without a surviving spouse who qualifies under section 42-17302.
2. The tax deferred residence is sold or becomes subject to a fully executed, binding contract of sale or title to the residence is otherwise transferred to persons other than the individual or the individual's spouse who qualifies under section 42-17302. A tax deferred residence may not be transferred or conveyed unless the deferred property taxes, interest and costs are paid in full.
3. The residence is no longer the residence of the individual and, in the case of a married individual, the individual's spouse who qualifies under section 42-17302, unless the individual or spouse is required to be absent from the residence due to illness.
4. The residence becomes income producing property.
B. If the county assessor has reason to believe that any of the circumstances listed in this section has occurred, the assessor shall immediately notify the county treasurer and the state treasurer.