Homestead Act For Homeowners In Washington
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FAQ
(1) The homestead consists of real or personal property that the owner or a dependent of the owner uses as a residence.
If you are a senior citizen or a person with disabilities with your residence in Washington State, you may qualify for a property tax reduction under the property tax exemption for senior citizens and people with disabilities program.
Homestead tax exemptions usually offer a fixed discount on taxes, such as exempting the first $50,000 of the assessed value with the remainder taxed at the normal rate. With a $50,000 homestead exemption, a home valued at $150,000 would be taxed on only $100,000 of assessed value.
Qualifying Activity: Own home in Washington for five years; occupy as a primary residence; have combined disposable income of $57,000 or less; and have enough equity to secure the interest of the State of Washington in the property.
