Tri Cities Home Owners Can Defer Property Taxes
For Tri Cities Washington home owners with low incomes, a newer state program has been created to assist them financially by allowing them to defer paying their property taxes and/or special assessments. Under this deferral program, the Department of Revenue pays 50 percent of their property taxes and/or special assessments on their behalf.
Now, keep in mind, this is not an exemption from having to pay them ever. It is just a method to defer the payment until a later date. When you no longer own and use the property as your personal residence, you must repay the deferred tax. The deferred amount, plus interest, becomes a lien in favor of the state until the total amount is repaid.
This program is for you 2nd half taxes, which are due October 31st. You must been the requirements of the program, and have already paid the 1st half of the year’s taxes. The requirements include ownership, residency, income and equity.
For more information, please see the Washington State Department of Revenue’s publication HERE and download the application form HERE, but get right on it- Taxes are due the end of October.
For access to all the homes currently listed for sale in the Tri Cities, use the interactive map-based search engine developed by the Tri City Home Team at our website.
