Property Tax Exemptions - The Civic Federation

(b) No part of the net earnings of such organization inures, other than throughsuch payments, to the benefit of any private shareholder or individual.13. Corporations classified as diversified management companies under § 5 of the federalinvestment company act of 1940 and registered as provided in that act.14. Insurance companies paying to the state tax upon premium income derived fromsources within this state.15. Mutual ditch, irrigation or water companies or similar nonprofit organizations ifeighty-five per cent or more of the income consists of amounts collected from membersfor the sole purpose of meeting losses and expenses.16. Workers' compensation pools established pursuant to § 23-961.01.B. Partial Exemptions.Partial exemptions are allowed for the part of the property that is used for charitablepurposes.WHAT ARE THE PROCEDURES FOR OBTAINING EXEMPTIONS?A. Creation of Exemptions.AZ ST s 42-11152A. Except as provided in § 42-11109, subsection B and except for property described in§§ 42-11125 and 42-11127, a person who claims exemption from taxation under articleIX, § 2, 2.1 or 2.2, Constitution of Arizona, shall:1. When initially claiming the exemption, appear before the county assessor tomake an affidavit as to the person's eligibility.2. When claiming the exemption in subsequent years, appear before the countyassessor or a notary public to make an affidavit as to the person's eligibility.3. Fully answer all questions on the eligibility form or otherwise required by theassessor for that purpose.B. At the assessor's discretion, the assessor may require additional proof of the factsstated by the person before allowing an exemption.C. A person who is in the United States military service and who is absent from this stateor who is confined in a veterans' hospital or another licensed hospital may make therequired affidavit in the presence of any officer who is authorized to administer oaths ona form obtained from the county assessor.D. A false statement that is made or sworn to in the affidavit is perjury.B. Procedures for Retaining an Exemption.AZ ST s 42-11153A. Except as provided in § 42-11109, subsection B, a failure by a taxpayer who is entitledto an exemption to make an affidavit or furnish evidence required by this article betweenthe first Monday in January and March 1 of each year constitutes a waiver of theexemption.B. If a widow, widower or disabled person whose property is exempt from tax under §26