This bill introduces a new section to chapter 84.36 RCW, providing property tax relief specifically for senior citizens aged 75 and older. Under this legislation, all real property owned by individuals in this age group will be exempt from state and local property taxes, irrespective of their combined household income. The exemption applies to the year following the claim's filing and continues annually thereafter, provided the property is the claimant's principal residence. The bill also allows for the transfer of exemption status to a new residence if the individual sells or is displaced, and it ensures that temporary confinement in care facilities does not disqualify the exemption if certain conditions are met.

Additionally, the bill clarifies ownership requirements for claiming the exemption, stating that individuals must own their residence outright or have a qualifying interest in cooperative housing. It also specifies that a marital community or registered domestic partnership can claim the exemption if at least one partner meets the age requirement. Notably, the bill states that existing laws, specifically RCW 82.32.805 and 82.32.808, do not apply to this act, and it will take effect for taxes levied for collection in 2026 and beyond.