Concerning property tax reform.

HB 2376 expands property tax relief for eligible seniors, disabled retirees, and veterans by creating tiered exemptions based on income. It directly affects Washington residents aged 61+ (or disabled retirees/veterans with 80%+ service-connected disability), who qualify for full or partial exemptions on property taxes if their combined income falls below specific thresholds. Key provisions include: full exemption from excess taxes and state/local taxes for those below income threshold 3; exemptions covering 45% of home value (up to $200,000) for threshold 2; and 80% coverage (up to $500,000) for threshold 1. The bill also establishes rules for valuing homes using 1995 values or requalification assessments, and allows exemptions to transfer to new residences under specific conditions.