WA SB6316

Creates a $150,000 homestead exemption from property taxes for Washington residents with combined disposable income of $65,000 or less, effective for taxes levied in 2027 and thereafter

Eligible claimants must be age 61 or older, retired due to disability, or veterans receiving VA compensation with a 40% or higher service-connected disability rating (or total disability rating)

Exemption applies to principal residences including single-family homes, manufactured/mobile homes on foundations, floating homes, and cooperative housing units

Claimants must file declarations with the county assessor by June 30th, with renewal declarations required at least every six years

Exemption is added to (not replacing) existing property tax exemptions under RCW 84.36.379 through 84.36.389