Arizonans, whose income level is below minimum threshold limits and not required to file an individual income tax return or are seniors who own a residence, may still be eligible for state tax benefits by submitting two forms available through the Arizona Department of Revenue – Form 140ET Credit for Increased Excise Taxes or Form 140PTC Property Tax Refund Claim.
- Form 140PTC is used by qualified individuals to claim a refundable income tax credit for taxes paid on property located in Arizona that is either owned by or rented by the taxpayer. Form 140PTC provides a tax credit of up to $502.
- Form 140ET is used by individuals not required to file an Arizona individual income tax return but qualify to claim the refundable excise tax credit. The maximum credit available for the increased excise tax (Form 140ET) is $100 per household. An excise tax is a tax levied on certain goods by the state or federal government such as fuel, cigarettes, cellphones and alcoholic beverages.
For individuals not filing an income tax return and claiming both credits need only to complete Form 140PTC. However, individuals not submitting a tax return and not claiming the property tax credit must complete Form 140ET to claim the credit for increased excise taxes.
To determine eligibility for either Form 140PTC or Form 140ET, see form instructions at www.azdor.gov/Forms/Individual
Also, eligible Arizonans may file an application for Senior Property Valuation Protection Option with their County Assessor. A resident of the state who is 65 years of age may use this option on the person’s primary residence. The option provides for the “freezing” of the valuation of the primary residence of those seniors who meet certain requirements. To access the form go to https://azdor.gov/forms/property-forms/senior-property-valuation-protection-option