WA HJR4207

Proposes a constitutional amendment to Article VII allowing the legislature to create a homestead property tax exemption for state property taxes on principal residences

Exemption may reduce up to $250,000 of equalized assessed valuation for qualifying owner-occupied homes

Requires state levy rates to be reduced to prevent the exemption from shifting tax burden to higher-valued homes and non-exempt properties

Authorizes the legislature to provide annual increases to the maximum exemption amount and to impose additional limitations and conditions

Amendment would be submitted to voters at the next general election, with notice published at least four times in every legal newspaper during the four weeks before the election