Bill > SB5798

This bill concerns property tax reform by making several key changes to existing tax laws. Specifically, it expands property tax relief for senior citizens and disabled veterans by modifying income thresholds and exemption amounts. The bill introduces a standard deduction of $7,500 for the person claiming the exemption, with an additional $7,500 for their spouse or domestic partner, which can be used when calculating combined disposable income. It also adjusts the state property tax levy rate, setting it at $2.095 per $1,000 of assessed value for taxes collected in 2026, and clarifies that standard property tax limitations will apply for taxes collected in 2027 and beyond. Additionally, the bill requires tax statements to specifically identify the state property tax as the "state school levy," improving transparency about how property tax revenues are used. The changes are designed to provide more financial relief to qualifying homeowners, particularly seniors and veterans, while also making property tax documentation more clear and understandable. The bill will take effect for taxes levied for collection in 2026 and 2027, depending on specific provisions.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=5798&Year=2025&Initiative=false