WA SB6256

Extends the property tax exemption timeline for unoccupied nonprofit affordable housing properties from two to three assessment years, allowing more time for acquisition, construction, or renovation before the property must be occupied

Applies to real and personal property owned by nonprofit entities providing rental housing or mobile home lots where at least 75% of occupied units serve qualifying households (income at or below 60% of area median income)

Clarifies that property portions qualifying for exemptions under RCW 84.36.030 or 84.36.040 upon completion of renovations remain exempt during the renovation period

Requires nonprofits to have financing commitments from approved housing programs (federal, state, or local) and demonstrate written intent to convert property to affordable housing to qualify for the unoccupied property exemption

Exempts this act from tax preference performance statement requirements under RCW 82.32.805 and 82.32.808