Bill > SB5715

This bill provides property tax relief to senior citizens in Washington state. It adds a new section to chapter 84.36 of the Revised Code of Washington (RCW) to exempt all real property owned by persons 75 years of age or older from state and local property taxes, regardless of their combined household income. The exemption applies to the residence occupied by the person claiming the exemption as their principal place of residence, and it can be transferred to a replacement residence if the person sells, transfers, or is displaced from their home. The bill also specifies that the exemption applies even if the residence is temporarily unoccupied, occupied by a spouse or financially dependent person, or rented to pay for long-term care costs. The bill makes the property tax exemption effective for taxes levied for collection in 2024 and thereafter.