Creating a homestead exemption for seniors, persons retired due to disability, and veterans with disabilities.

Summary

The bill adds a new state homestead exemption that reduces the taxable value of a home by up to $150,000 for qualifying owners. It applies to people 61 or older, those retired because of disability, or veterans receiving VA disability compensation, provided their combined disposable income is $65,000 or less. The exemption begins with taxes collected in 2027 and is layered on top of existing Washington homestead exemptions.

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