We reported last week on the bills introduced in the Senate that would expand property tax exemptions for affordable housing. The House has introduced additional bills that aim to provide property tax relief for senior citizens and disabled veterans. None of these are companion bills to the Senate bills.
HB 1090, sponsored by Rep. Drew MacEwen (R–Union) and HB 1044, sponsored by Rep. Sharon Tomiko Santos (D–Seattle), each provide exemptions for seniors and veterans, but take a different approach. HB 1044 does it by changing existing law to provide income threshold tiers on percentage of median income. HB 1090 adds an additional exemption to existing law, capping the assessed value taxed at $250,000. Notably, HB 1090 does not apply to local property taxes.
HB 1181, sponsored by Rep. Debra Lakanoff (D–Bow), is similar in its approach to HB 1044 by changing existing law to provide income threshold tiers on percentage of median income. However, unlike HB 1044, HB 1181 removes the statutory income maximums (i.e. $35-40,000), relying only on the percentage of medium income tiers. HB 1320, sponsored by Rep. Sharon Wylie (D–Vancouver) is similar to HB 1044, but creates different tier thresholds.
The bills that propose the median income tier structure are very similar to SB 5160, that we covered last week. Read our previous article on what this bill does.
Dates to remember
All the above House bills are scheduled for a hearing in the House Finance Committee at 8 am on Tuesday, January 29.
SB 5160 passed out of its policy committee and has a hearing before the Senate Ways & Means Committee on Thursday, January 31 at 3:30 pm.