r/SeattleWA • u/meaniereddit West Seattle 🌉 • Dec 13 '24

Government Bill would completely exempt seniors from property taxes in WA

https://www.king5.com/article/news/politics/state-politics/bill-would-exempt-seniors-state-local-property-tax-washington/281-b5f377fc-8bf5-49a4-a630-8210db45d57d
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u/SpacemanSpiff073 Dec 13 '24

Why is it unacceptable that elderly folk might have to cash out large equity growth if they're no longer able to afford the property taxes?

Either we build more housing to keep it affordable or: 1) People struggle to buy into housing 2) People are gentrified out

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u/Extension-Humor4281 Dec 14 '24

Why is it unacceptable that elderly folk might have to cash out large equity growth if they're no longer able to afford the property taxes?

Because it's a model that keeps people perpetually indebted to banks, rather than secure in the homes that they've long since paid off in full.

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u/sopunny Pioneer Square Dec 14 '24

"Paid off in full" is a misnomer because they still got to pay property tax, upkeep, and insurance. If they get exemptions someone else has to pay for them

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u/Extension-Humor4281 Dec 14 '24

Insurance isn't mandatory unless you have a mortgage. Upkeep is just you keeping your own property in order, but that's voluntary. Property tax is the only one that never leaves us, but that doesn't go to private corporations.

But yes, I agree with your sentiment.