SB 1033 Summary

• Amends Arizona Revised Statutes Section 42-18054 regarding tax statements for mortgaged properties where mortgagees pay taxes on behalf of mortgagors.

• County treasurers shall mail written tax statements to mortgagors at their last known address, and may send statements to mortgagees in any form established by the county treasurer.

• Liability for taxes, interest, fees, and penalties does not depend on whether the mortgagor or mortgagee receives the tax statement.

• Requires mortgagees who receive unsatisfied tax statements after a mortgage is satisfied to either return the statement to the county treasurer within 30 working days (with mortgagor's last known address) or forward current tax information to the mortgagor and notify the county treasurer.

• Mortgagees who fail to comply with these requirements and cause the property tax to become delinquent are liable to the mortgagor for all resulting interest and penalties.