SENATE BILL REPORT

SHB 1373

BYHouse Committee on Ways & Means/Revenue (originally sponsored by Representatives Unsoeld and Belcher)

Eliminating the current year tax cancellation for property becoming exempt from property tax.

House Committe on Ways & Means/Revenue

Senate Committee on Ways & Means

Senate Hearing Date(s):February 24, 1988; February 29, 1988

Majority Report:  Do pass.

      Signed by Senators McDonald, Chairman; Bluechel, Cantu, Deccio, Fleming, Gaspard, Hayner, Johnson, Moore, Newhouse, Saling, Talmadge, Vognild, Warnke.

Senate Staff:Gary Benson (786-7715)

                  February 29, 1988

AS REPORTED BY COMMITTEE ON WAYS & MEANS, FEBRUARY 29, 1988

BACKGROUND:

Property qualifying for property tax exemption is entitled to a cancellation of the pro-rata portion of taxes payable for the remaining portion of the year from the date of exemption or conversion to exemption.

If taxes have already been paid subject to the period of time of qualification of exemption, the property tax payer is entitled to a refund.

SUMMARY:

Property tax exemptions begin the year following approval.  If the owner has paid property taxes for the following year, the owner is entitled to a refund.

Appropriation:    none

Revenue:    yes

Fiscal Note:      available

Senate Committee - Testified: Ann Clifton, Thurston County Assessor