Bill > SB5020

This bill provides a comprehensive property tax exemption for senior citizens aged 75 and older, regardless of their household income. Under the proposed legislation, individuals who are 75 years or older on December 31st of the year following the claim filing will be completely exempt from state and local property taxes on their primary residence. The exemption applies to properties owned in fee, as a life estate, or by contract purchase, and extends to cooperative housing situations. The bill allows for flexibility in residence occupation, meaning seniors can maintain their tax exemption if temporarily living in a hospital, nursing home, or assisted living facility, or if their home is occupied by a spouse, domestic partner, or financially dependent person. The exemption can also be transferred to a replacement residence if the original home is sold or the owner is displaced. For married couples or domestic partnerships, the exemption can be claimed if at least one partner meets the age requirement. The tax exemption will first apply to taxes levied for collection in 2026 and subsequent years, providing significant financial relief for seniors in Washington state.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=5020&Year=2025&Initiative=false