How can I get an exemption from property taxes?
In the state of Washington, there are several exemptions available to property owners that can help reduce their property taxes. A few of the more common exemptions are Homestead Exemption, Widower’s Exemption, Senior Citizen’s Exemption, and Veteran’s Exemption. The Homestead Exemption is available to all home owners who have lived in their home for at least 12 months. This exemption reduces the assessed value of a home by up to $20,000, which can result in a substantial reduction of annual property taxes. The Widower’s Exemption is available to any home owner who experienced the death of a spouse in the past year. This exemption reduces the assessed value of the home by up to $30,000, resulting in significant property tax savings. The Senior Citizen’s Exemption is available to any homeowner who is over the age of 61. This exemption reduces the assessed value of a home by up to $50,000, significantly reducing the amount of taxes due. Finally, the Veteran’s Exemption is available to any current or former military veterans who own their home. This exemption reduces the assessed value of a home by up to $100,000, resulting in significant property tax savings. In order to apply for any of these exemptions, property owners must provide the necessary paperwork to their local county assessor’s office. The documents and forms needed will vary depending on the type of exemption being requested. Property owners should contact their local assessor’s office for more information on the types of exemptions available and how to apply.
Related FAQs
What is a homestead tax exemption?What is a property tax lien?
How do I apply for property tax relief?
How can I appeal a property tax assessment?
What are the impacts of tax abatements on property taxes?
What is the difference between assessed value and market value?
What is assessed value?
What is a property tax assessment appeal?
How are property taxes different in different states?
What are my options for paying my property taxes?
Related Blog Posts
A Guide to Understanding Property Tax Laws - July 31, 2023Comprehensive Overview of Property Tax Regulations - August 7, 2023
What Every Property Owner Should Know About Property Tax Laws - August 14, 2023
Calculating Property Tax Liability in Simple Steps - August 21, 2023
Exemptions and Deductions: Lowering Your Property Tax Bill - August 28, 2023