Bill > SB6316

This bill establishes a new homestead exemption, which is a reduction in property taxes, for eligible individuals starting with taxes collected in 2027. Specifically, it allows for an exemption of up to $150,000 of a home's assessed value for those with a combined disposable income of $65,000 or less, provided they are either 61 years or older, retired due to disability, or a veteran with a 40% or higher service-connected disability rating from the U.S. Department of Veterans Affairs. The exemption is applied after other existing exemptions and requires claimants to file a declaration and renewal forms with their county assessor, confirming the property is their principal residence. The bill also outlines conditions for maintaining the exemption, including temporary absences due to medical care, and specifies that the exemption amount cannot exceed the property taxes otherwise owed.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=6316&Year=2025&Initiative=false