Bill > SB5732

This bill amends the existing law on property tax exemptions for senior citizens and disabled veterans in Washington state. The key provisions of the bill are: 1. It allows individuals who have had increases in their social security, supplemental security income, or pension benefits due to cost-of-living adjustments to maintain their property tax exemption eligibility, even if the increase would have otherwise disqualified them. 2. This continued eligibility applies to applications for property taxes levied for collection in calendar year 2024. 3. The bill also specifies how to calculate the combined disposable income for individuals who are retired for part of the year or have experienced a substantial change in their disposable income, such as the death of a spouse or domestic partner. 4. The bill clarifies the valuation of the residence used to determine the exemption amount, ensuring it is based on the assessed value from the time the person first qualified for the exemption. The overall goal of the bill is to protect the property tax exemption eligibility for senior citizens and disabled veterans in Washington state.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=5732&Year=2023&Initiative=false