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 Washington State Department of Revenue Real Estate Excise 2020

State of Washington Combined Excise Tax Annual 2020-2025 Form

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did you see the news that real estate excise tax is going up here's a few things to expect [Music] hello I'm Catherine we're with Coldwell Banker bein as the old saying goes there are two things in life that are guaranteed death and taxes and in Washington State excise tax is going up you may be asking what is excise tax and how does it affect me well it doesn't affect you until you decide to sell your home when you do close on the sale of your home one point seven eight percent of the proceeds goes to taxes well at least it used to as of April the twenty eighth the state passed a budget with a progressive real estate tax and it will take effect on January the first 2020 here's what it looks like when we break it down [Music] so what does that mean for you as a home seller well if you're selling a home for over 1 million dollars then you may be better off selling it in 2019 as you will be saving a little on your excise tax if you are thin

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