| There is some welcome news for people who pay | | | | In order to get the process started, it is essential that |
| property taxes in the state of Washington. The state | | | | the homeowner complete a Deferral Application, which |
| has enacted some regulations that will help certain | | | | is available on the Clark County website. Assistance |
| property owners defer their property taxes. Basically, | | | | can be received by calling 360-397-2391. One |
| the property tax relief program allows homeowners to | | | | important document that must be provided is a copy |
| defer half of their taxes each year as long as they | | | | of something showing the amount of the home's |
| qualify for the program by meeting certain | | | | equity. Then, the necessary paperwork must be |
| requirements. | | | | completed and all required documentation must be |
| Some of the requirements that are necessary in order | | | | attached to the application. This will make the process |
| to obtain this tax relief from the state are listed here. | | | | run more smoothly and an answer should be received |
| First of all, the applicant must have owned his or her | | | | quite quickly. |
| home for the past five years and must be a current | | | | If and when an applicant is approved, the state of |
| resident living in the home. The combined household | | | | Washington will pay the second half of the applicant's |
| income cannot be more than $57,000.00. Also, the first | | | | property taxes. Interest will be charged by the state |
| half of the property taxes must be paid by the | | | | and is generally based on the federal short term |
| homeowner and the tax deferral cannot be more than | | | | interest rate plus about 2%. A lien will be placed on the |
| 40% of the equity in the home. The program has no | | | | property and won't be removed until repayment has |
| age restriction and having a disability is not a | | | | been made by the taxpayer. |
| requirement. | | | | |