SPOKANE COUNTY, Wash. – With the passage of HB 1355, Spokane County Assessor Tom Konis announced Tuesday, April 25th, that his office is preparing for an update to the income threshold for property tax exemptions for senior citizens, people with disabilities, and veterans with disabilities in Spokane County.
Signed into law by Governor Inslee on April 20, 2023, HB 1355 will increase the income limit for senior citizens, people with disabilities, and veterans with disabilities seeking a property tax exemption. Presently the income limit is 65% of each Counties annual household median income. In Spokane County specifically, the income limit threshold was set at $40,000 prior to the passage of the HB 1355. This new law, which will adjust the property tax relief levels starting in the 2024 tax year for those who qualify, will increase the income level limit to 70% of the median household income. It will also provide an important avenue for updating income thresholds ever three years, instead of what used to be every five years. The Spokane County Assessor’s Office projects that the increase in Spokane County for income level could go to approximately $44,000. The Washington State Department of Revenue is expected to post exact income level limits on August 1, 2023.
Assessor Konis stated, “I am very pleased that HB 1355 will be enacted into law. More taxpayers in Spokane County are going to see some relief on their property tax bills. We have nearly 10,000 residents enrolled in the program currently. We anticipate that number will continue to grow in future years and with the updates to the income limit being reviewed more frequently, we’ll be better able to account for inflation and the rise in property values. My hope is that we can get word to every citizen in Spokane County who is eligible for this program to take advantage of it.”
For more information about the Senior and Disabled Veteran property tax exemption visit www.spokanecounty.org/Assessor.