I don't think that matters. The relevant text: "All taxes shall be uniform upon the same class of property within the territorial limits of the authority levyi

I don't think that matters. The relevant text: "All taxes shall be uniform upon the same class of property within the territorial limits of the authority levying the tax and shall be levied and collected for public purposes only. The word "property" as used herein shall mean and include everything, whether tangible or intangible, subject to ownership." https://leg.wa.gov/CodeReviser/Pages/WAConstitution.aspx#AMENDMENT_7 https://leg.wa.gov/CodeReviser/Pages/WAConstitution.aspx#AME... The SCOWA has said income is property. But it's up in the air if capital gains is income, or property. I also don't think this would fail the test if it's considered a separate class though, since the rate is uniform with an exemption. My understanding is that model has been fine for a long time, and is how seniors can get discounts on property taxes or something.