Property Tax Break In New Washington State: See Who Qualifies!

Disabled veterans and senior citizens in New Washington State will see lower tax bills starting this year. This is because of the passage of HB 1355 last month. It was signed into law by Governor Jay Inslee.

Property Tax Break In New Washington State (PHOTO: The Chronicle)

Property Tax Break In New Washington

Mansion Global reported that disabled veterans and senior citizens in New Washington State who are earning below the new income thresholds could expect a property tax break this year.

HB 1355 was passed last month in the State Senate and the House which will expand tax exemptions for disabled veterans and senior citizens. The bill increases the income threshold that is needed to qualify for deferrals and property tax exemptions.

The bill has received support as it will address the housing crisis that is prevalent in Washington. Veterans and seniors at or below the income threshold can qualify for a complete tax exemption up to $60,000 or %60, while those who earn a higher rate will see less significant tax exemptions. It will be reevaluated every three years and updated based on the consumer price index.

This bill will take effect this year on August 2023. Homeowners in Washington will see the impact of the change on their taxes in 2024 based on their 2023 income.

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Property Tax Break Qualifications

As mentioned earlier, disabled veterans and senior citizens must have an annual income that is below the income threshold, but it varies in every county.