The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 1st Regular Session, which convenes in January 2023.
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.
42-18054. Tax statements for mortgaged property; liability
A. If property that is subject to taxation by the county assessor is mortgaged and the mortgagee, or a person acting for the mortgagee, by the terms of the mortgage agreement pays the tax on behalf of the mortgagor:
1. The county treasurer shall mail a statement of taxes due on the property to the mortgagor at the mortgagor's last known address. The tax statement sent to the mortgagor shall be mailed before November 1 and be a written document. The tax statement shall separately list the following for the current and previous tax years for the property:
(a) The amount of primary taxes and secondary taxes applicable to the property that is due to each taxing jurisdiction.
(b) If applicable, the amount of additional state aid to school districts provided to property classified as class three pursuant to section 42-12003.
2. The county treasurer, on request, shall send a statement of taxes due on the property to the mortgagee. The tax statement sent to the mortgagee may be in any form established by the county treasurer.
3. The liability for the tax, and any subsequent interest, fees and penalties, does not depend on either the mortgagor or the mortgagee receiving the tax statement.
B. When a mortgagee either continues to receive or possesses an unsatisfied tax statement from the county treasurer after the mortgage is satisfied, the mortgagee shall either:
1. Return the tax statement to the county treasurer within thirty working days, together with the last known address of the mortgagor as shown on the records of the mortgagee.
2. Forward the tax statement or current taxes due information to the mortgagor and notify the county treasurer of this action.
C. If a mortgagee fails to comply with subsection B of this section and, as a result of the mortgagee's failure to comply, the tax on the mortgagor's property becomes delinquent, the mortgagee is liable to the mortgagor for all interest and penalties imposed by law for the delinquent tax.