Bill > HB2621

This bill aims to reform property taxes by expanding and streamlining the senior citizen property tax relief program, consolidating the state property tax, and increasing transparency in its use. Key provisions include increasing the property value exemption for seniors with lower incomes, allowing for higher income thresholds to qualify for relief, and introducing a standard deduction for certain expenses when calculating "combined disposable income" (which is the total income of a person, their spouse or domestic partner, and any cotenants, minus specific deductible expenses like medical costs, with the option to use a standard deduction of $7,500 per person). The bill also redefines how income thresholds for qualification are adjusted annually, tying them more closely to county median household income and phasing in higher percentages over time, and it mandates that property tax statements clearly identify the state property tax as the "state school levy." Additionally, it removes an exemption for farmers' machinery and equipment from state property taxes and adjusts the state property tax rate, with a significant reduction for taxes levied in 2027 and beyond, after which the general property tax limitations will apply.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=2621&Year=2025&Initiative=false