Help for homeowners affected by economic downturn
Property Tax Deferral Program Available for Fall Taxes
Olympia, Wash., July 22, 2010 — Homeowners on limited incomes can apply to defer paying their second half property taxes due Oct. 31.
The application deadline is Sept. 1. First-half taxes that were due April 30 must have been paid.
Applicants must have an annual household income of $57,000 or less in 2009, have owned the home for at least five years, use it as their primary residence, and have sufficient equity. Deferred taxes cannot exceed 40 percent of equity.
The deferred taxes must be repaid, with interest, when the property is sold or no longer used as the homeowner’s primary residence. The interest rate is 3 percent for 2010.
For more information, see the Department’s publication Property Tax Deferral for Homeowners with Limited Income, call 360-570-5900, or contact your county assessor.
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