AZ SB1496

Amends property tax exemption amounts for widows, widowers, persons with total and permanent disabilities, and veterans with disabilities to adjust annually based on inflation metrics.

Starting in tax year 2025, the total assessment limit ($28,459) will increase yearly based on the federal house price index for the two most recent complete state fiscal years.

The exemption amount ($4,188) and income limits ($34,901 and $41,870) continue to adjust annually based on the GDP price deflator for the two most recent complete state fiscal years.

Defines "federal house price index" as the average measure of single-family house prices in the United States published by the federal housing finance agency for Arizona.