Real Estate News with Merri Ann

Merri Ann Simonson – Contributed photo

Merri Ann Simonson checks in with another article covering real estate news…

Excise Tax Increase, Decrease and Shift

There will be a major change in real estate excise tax taking effect January 1, 2020 for the State of Washington.  I have provided a link below to the Senate Bill which created this change to a graduated tax rate.  

The Excise Tax adjustment will affect what the seller pays.  In January 2019 the tax went up for the buyers in our County with the addition of the Affordable Housing Tax (Buyer pays 99% of the .5% tax).  

Continue Reading… (PDF)