H-0570.1

HOUSE BILL 1090

ByRepresentatives MacEwen, Shea, Caldier, Stanford, and Young

AN ACT Relating to providing property tax relief to senior citizens; adding a new section to chapter 84.36 RCW; and creating new sections.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1. A new section is added to chapter 84.36 RCW to read as follows:

(1)(a) Beginning with taxes levied for collection in the calendar year following a claimant's sixty-fifth birthday, and subject to the conditions in this section, a portion of the assessed value of a claimant's residence as identified in (b) of this subsection is taxed at the lesser rate of:

(i) The combined levy rate under RCW 84.52.065 (1) and (2) of whatever year in which the claimant turns sixty-five; or

(ii) The combined levy rate under RCW 84.52.065 (1) and (2) of the current assessment year.

(b) The portion of the residence to be taxed at the rate under (a) of this subsection is the first two hundred fifty thousand dollars of assessed value.

(c) If the total assessed value of the residence is two hundred fifty thousand dollars or less, the preferential rate established in (a) of this subsection applies to the entire value.

(2) The preferential rate provided in this section is in addition to the exemption provided in RCW 84.36.379 through 84.36.389.

(3) The preferential rate provided in this section applies only to the state property taxes levied under RCW 84.52.065 (1) and (2) and not to any local property taxes.

(4) The following conditions apply to the claimants of the preferential rate provided in this section:

(a) The residence must be occupied by the claimant as his or her primary place of residence as of the date of tax assessment;

(b) A claimant may not receive the benefit provided in this section on more than one residence per year; and

(c) The claimant must be a resident of the state of Washington as determined by the department.

(5) The definitions in this subsection apply throughout this section unless the context clearly requires otherwise.

(a) "Claimant" means an individual who has turned sixty-five in the previous year and is eligible for the preferential rate paid on their residence under this section.

(b) "Residence" has the same meaning as provided in RCW 84.36.383.

--- END ---