Living Green Olympia: February 2010

Are You Paying More Property Taxes Than You Should Be????

Everyone grumbles about paying property taxes, but did you know that there are a number of exemptions in Washington State that might save you some money - maybe LOTS of money??

One of the largest exemptions (in terms of numbers of taxpayers who qualify) is the senior citizen exemption.  For a homeowner who is 61 years old or older, or disabled and unable to work, and whose income does not exceed $35,000 per year - there may be very good news about tax savings.  Application is made through the county assessor's office, and if you meet all the requirements, there are several categories of tax reduction that apply based on which category your income falls within.

Because of legislative desire to preserve forest and agricultural land, there is also a series of exemptions for some land which is forest land or farm/agricultural in current use.  Similarly, there are exemptions available to historical properties with the goal of encouraging preservation and restoration of these community treasures and links to the past.

If you intend to remodel your home, check first with your county assessor's office for another exemption.  You may qualify for a 3 year break on taxes on the value of the improvements you are making - with one catch!  You must file for the exemption BEFORE you do the remodel work!

On the flip side of a remodel is the tax break to help you if you have been unlucky enough to have your property destroyed.  You have a three year window of time to apply for this from the date of destruction and then the reduced value can be calculated from that date.

So be sure and get more information about the details of these programs for property tax exemptions if it sounds like you might qualify for any of them!  Your local county assessor's office will have all the details and application forms necessary.  Go save yourself some money on property taxes!!

                                                                           

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For Info on the Communities of Olympia, Lacey & Tumwater  WA and the real estate to be found here, just call me, text me, email me!  And I'd love for you to subscribe to my blog.

Nancy Conner, City Realty Inc,    360-701-1086     nancy@cityrealtyinc.net      

Comment balloon 3 commentsNancy Conner • February 25 2010 03:58PM
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