Rcw real estate excise tax. 220; 3 reenacting and amending RCW 82.
Rcw real estate excise tax 180. Sales of real property measured by the selling price, including the amount Tax on sale of real property authorized — Proceeds dedicated to local capital projects — Additional tax authorized — Maximum rates. Therefore, if the transfer is subject to the excise tax, it is the liability of Real Estate Excise Tax Affidavit (RCW 82. The legislature intends to equate the excise tax burdens on all sales of real property and transfers of entity ownership essentially equivalent to a sale of real property under chapter 82. To request this document in an alternate format, visit https://dor. If such a contract is entered into, notice of the special assessments, excise taxes, or rates or charges it shall be unlawful for any person to remove the personal property subject to tax liens created pursuant to RCW 84. Statutory Authority: RCW 82. 12555 (part), 1990) Real Estate Excise Tax Affidavit Controlling Interest Transfer Return Chapter 82. 32 RCW apply to the real Real Estate Excise Tax Affidavit Controlling Interest Transfer Return Chapter 82. (iv) (2) (a) The legislative authority of any county or any city may impose an excise tax on each sale of real property in the unincorporated areas of the county for the county tax and in the corporate (5) Taxes imposed under this section must comply with all applicable rules, regulations, laws, and court decisions regarding real estate excise taxes as imposed by the state under chapter 82. 45 RCW imposes an excise tax on every sale of real estate in the state of Washing - ton. 032: Administrative offices of nonprofit religious organizations. 010(2) to "local capital improvements" was to include in such expenditures the acquisition of real and personal property associated with such REAL ESTATE EXCISE TAX AFFIDAVIT CHAPTER 82. state are subject to the real estate excise tax unless specifically exempted by chapter 82. A transfer of real property is exempt from the real estate excise tax if it consists of a mere change in identity or form of ownership of an entity. gov/REETForms for more information. 060. 130. 458‑61A‑103: Transfers involving an underlying debt. County rates vary depending on the area. The legislature further finds that one such exception involves real property transferred as a result of a devise by will or inheritance. 150, 82. 32 RCW apply to the real (1) "Affidavit" means the real estate excise tax affidavit provided by the department for use by taxpayers in reporting transfers of real property. Call the Legislative Hotline 1-800-562-6000 REAL ESTATE EXCISE TAX SUPPLEMENTAL STATEMENT (WAC 458-61A-304) This form must be submitted with the Real Estate Excise Tax Affidavit (FORM REV 84 0001A) (RCW 82. The general provisions for the administration of the state's excise taxes contained in chapter 82. These examples identify a number of facts and then state a conclusion. 060(3)( a) requires sales of real property with multiple uses to be classified according to the property’s predominant use for REET purposes, i. All tax revenues shall be administered by the County as part of the affordable housing fund and spent in accordance with RCW 82. Tax Base . 197 requires specific types of documentation to be provided to qualify for this inheritance exemption. The provisions of those chapters to the extent they are not inconsistent with this chapter, shall apply as though fully set forth herein. ETA 3239. A transfer of real property from an S corporation to a former shareholder is not exempt from real estate excise tax as a mere change in identity or form where the transfer occurred after the former shareholder The real estate excise tax does not apply to the transfer of real property that results in the creation of a tenancy in common or joint tenancy with or without right of survivorship if no consideration passes RCW 82. There are limited exemptions or exclusions from the real estate excise tax provided by law. 38 (nonprofit org. 45 WAC 458-61A) Only for sales in a single location code on or after July 1, 2024. 45 RCW . 32 RCW ap-ply to the real estate excise tax, except as provided in RCW Was the seller receiving a property tax exemption or deferral . wa. The department is solely responsible for such verification as part of its audit responsibilities under RCW 82. ] Questions or Real Estate Excise Tax Affidavit (RCW 82. . PLEASE TYPE OR PRINT 1 Name 2 Name REAL ESTATE EXCISE TAX AFFIDAVIT CHAPTER 82. 010 Tax on sale of real property authorized—Proceeds dedicated to local capital projects—Additional tax authorized—Maximum rates. 36, 84. WSR 05-23-093, § 458-61A-204, filed 11/16/05, effective 12/17/05. 020)? See ETA 3215 Real Estate Excise Tax Affidavit (RCW 82. 45 RCW imposes an excise tax on every sale of real estate in the state of Washing-ton. Real Estate Excise Tax Washington State, under Chapter 82. The current rate for Kitsap County is . Teletype (TTY) users may use the Washington Real Estate Excise Tax Affidavit Controlling Interest Transfer Return Chapter 82. 458-40: Taxation of forest land and timber. 010 Tax levied. 45 WAC 458-61A) Only for sales in multiple location codes on or after July 1, 2022. RCW . 46 RCW in the local real estate excise tax account hereby created in the state treasury. Legislative declaration — 1994 c 272: "The legislature declares that, in section 13, chapter 49, Laws of 1982 1st ex. in achieving the specific public policy objective described in subsection (3) of this section, the joint legislative audit and review committee must determine the amount of leasehold excise tax paid by taxpayers claiming the Real Estate Excise Tax Affidavit (RCW 82. 030 and RCW 9A. The general provisions for the adminis-tration of the state's excise taxes contained in chapter 82. 015 Capital projects—Use of tax funds. 150 with respect to any sale. Tax is lien on property — Enforcement. 45 RCW and these rules. REAL ESTATE EXCISE TAX AFFIDAVIT CHAPTER 82. WAC 458-61A-201 through 458-61A-217 discuss exemptions and the procedures that must be followed to qualify for an exemption. Real Estate Excise Tax. The tax is typically Real Estate Excise Tax (REET) Tax Reference Manual Page 78. Water rights: Title 90 RCW. The second quarter of one percent (. Transfers of real property from a governmental entity are not subject to the real estate excise tax. 46 RCW Tax Base Sales of real estate measured by the full selling price, including the amount of any liens, mortgages, or other (2)(a) The legislative authority of any county or any city may impose an excise tax on each sale of real property in the unincorporated areas of the county for the county tax and in the corporate Any city, town, or county may impose a 0. THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See back page for instructions) Check box if partial sale of property If multiple owners, list percentage of Chapter 82. 458-53: Property tax annual ratio study. 45 WAC 458-61A) Only for sales in a single location code on or after July 1, 2022. 2023 Issue Date: August 9, 2023 . Teletype (TTY) users may use the Washington Real Estate Excise Tax Affidavit (RCW 82. 45 RCW - CHAPTER 458-61A WAC THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED Only for sales in multiple location codes on or after January 1, 2020. in achieving the specific public policy objective described in subsection (3) of this section, the joint legislative audit and review committee must determine the amount of leasehold excise tax paid by taxpayers claiming the credit under section 1302, chapter 37, The real estate excise tax does not apply to the transfer of real property that results in the creation of a tenancy in common or joint tenancy with or without right of survivorship if no consideration passes RCW 82. 45 RCW Chapter 458-61A WAC Submit to County Treasurer of the county in which property is located. HTML PDF: 82. This The taxes imposed herein shall comply with all applicable rules, regulations, laws and court decisions regarding real estate excise taxes as imposed by the state under Chapter 82. This form is your receipt THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See back of Legislative declaration — 1994 c 272: "The legislature declares that, in section 13, chapter 49, Laws of 1982 1st ex. Form 84 0001a This form REAL ESTATE EXCISE TAX SUPPLEMENTAL STATEMENT (WAC 458-61A-304) This form must be submitted with the Real Estate Excise Tax Affidavit (RCW 9A. 47: Border area motor vehicle fuel and special fuel tax. See RCW 82. Tax is seller's obligation — Choice of The legislature intended to apply the real estate excise tax of chapter 82. 030. 45 WAC 458-61A) Only for sales in a single location code on or after January 1, 2020. The table below shows the annual interest rate history and provides a link to the Excise Tax Interest Rates. If a county imposes this tax, it is Pursuant to RCW 82. Please see dor. Site Contents Selected content listed in TAX LIABILITY RCW 82. Check box if partial sale, indicate % sold. under RCW 84. Call the Legislative Hotline Counties and cities — Excise tax on real estate sales. Call the Legislative Hotline 1 Real estate excise tax—Overview. 010 and 84. 0025 percent (one quarter of one percent) of the selling price, or as hereafter amended by Chapter 82. 45 WAC 458-61A) Only for sales in multiple location codes on or after July 1, 2024. " Generally, a gift of real property is not a sale, and is not subject to the real estate excise tax. 160. Chapters 82. EXCISE TAX ON REAL ESTATE SALES. 035 may use some of the revenues for affordable housing projects through January 1, 2026, subject to 3. 458-65A The tax imposed in this chapter shall comply with all applicable rules, regulations, laws and court decisions regarding real estate excise taxes as imposed by the state under Chapter 82. 48: Aircraft excise tax. 300, and 82. Excise Tax Advisory Excise Tax Advisories are interpretive statements authorized by RCW 34. (a) Through December 31, 2019, the rate of the tax imposed under this section is 1. This form is your receipt THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See back of last page for instructions) Check box if partial sale, indicate % _____sold. HTML PDF: Real and personal property of housing finance commission. 45 WAC 458-61A) Only for sales in multiple location codes on or after November 1, 2024. 36. Real Estate Excise Taxes (REET) • REET in Lieu of “Second Half” Sales Tax. 021(1)(c)). 021 Referendum procedure to repeal or alter tax. Pursuant to RCW 82. 458-30: Open Space Taxation Act rules. 005. gov and click on “contact us” or call 360 -705-6705. 050 for additional information. 02. All sales of real property in this state are subject to the real estate excise tax unless sp ecifically exempted by chapter 82. Therefore, if the transfer is subject to the excise tax, it is the liability of Excise tax, real estate sales: Chapter 82. citizen or disabled person, homeowner with limited income)? Yes No Is this property predominantly used for timber (as classified under RCW 84. local improvement assessment delinquency: Chapter 54. 25%) of the real estate excise tax (REET 2) capital projects are defined in RCW 82. In addition to the REET discussed in this rule, a sale of real property may also be subject to an excise tax imposed by a The Real Estate Excise Tax Controlling Interest Transfer 36-Month Lookback Period Keywords: ETA 3216. 46 RCW. 115. Execution and redemptions, sales under: Chapter 6. Executions Validity of agreement to indemnify against liability for negligence relative to construction or improvement of real property: RCW 4. " A transfer of real property is exempt from the real estate excise tax if it consists of a mere change in identity or form of ownership of an entity. WSR 14-06-060, § 458-61A-215, filed 2/28/14, effective 3/31/14. WAC 458-61A-211; RCW 82. WSR 05-23-093, § 458-61A-201, filed 11/16/05, effective 12/17/05 Real Estate Excise Tax Affidavit (RCW 82. From 1981 through 1998 the interest rate was 1 percent per month, or 12 percent for the calendar year. The persons signing below do hereby declare under penalty of perjury that the following is true (check appropriate statement): REAL ESTATE EXCISE TAX AFFIDAVIT CHAPTER 82. : HTML PDF: 458-61A-101: Taxability of the transfer or acquisition of the controlling interest of an entity with an interest in real property located in this state. 20. See chapter 82. c As of January 1, 2023, providers of affordable housing in Washington State have access to a new exemption from the excise tax on real estate sales (also known as the real estate excise tax, or “REET”). " Clarification of exemption in RCW 84. 033 WAC 458-61A-101 WAC 458-61A-102 Created Date Real Estate Excise Tax Certification Co-Signor Exemption WAC 458-61A-215(2)(d) & (2)(e) This form must be submitted with the Real Estate Excise Tax Affidavit for deeded transfers (Form REV 84 0001A) when claiming the co-signor exemption from real estate excise tax (WAC 458-61A-215). 45 WAC 458-61A) Only for sales in multiple location codes on or after March 1, 2023. This form is your receipt THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See back of Payment in lieu of leasehold excise tax Reviser's note: Throughout chapter 82. 34 and 84. 120 Standards for reporting, application and collection of tax — Real estate excise tax affidavit form, contents, use. Sections. The transfer of a controlling interest in an entity that has an interest in real property in this state is considered a taxable sale of the entity's real property for purposes of the real estate excise tax under chapter 82. , classified land or non-classified land. 33. 32. Was the seller receiving a property tax exemption or deferral . See WAC 458-61A-101 for procedures pertaining to transfers and acquisitions of a controlling interest in an entity owning real property in the state of Washington. All transfers of real property in Washington State (and transfers of a controlling interest in an entity that owns real property) are subject to a real estate excise tax under Chapter 82. 46 RCW and Chapter 458 HTML PDF: 458-61A-100: Real estate excise tax — Overview. Counties and cities — Excise tax on real estate sales. Chapter 82. 035 as: “those public works of a local government for planning, acquisition, construction, reconstruction, repair, REAL ESTATE EXCISE TAX AFFIDAVIT CHAPTER 82. 110(4) So, yes, you do get an exemption for selling an interest in a pass-through entity, to the extent that that interest has real estate, but the DOR would like to know about it and Goal: Revenue from the second quarter of the Real Estate Excise Tax will be dedicated primarily to park improvements. 060, 82. 458-61A: Real estate excise tax. 2002-040). 45 and 82. privilege tax, excise tax on real estate sales: Chapter 82. 032: Real estate excise tax enforcement 23B, 24, and 25 RCW, to disclose: (i) Any transfer of the controlling interest in the entity or an interest that amounts to at least one-third of a controlling interest in the entity; and (ii) Graduated Real Estate Excise Tax (REET): Land Classifications & Predominant Use . 100). This form is your receipt THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED and local real estate excise taxes apply to the sale of real property unless one of several statutory exceptions apply. and occurring within the (1) There is imposed an excise tax upon each sale of real property. 45 RCW imposes an excise tax on every sale of real estate in the state of Washington. 45 WAC 458-61A) Only for sales in a single location code on or after November 1, 2024. Form 84 0001a This form is If you require assistance with that process, we encourage you to seek help from a real estate attorney or a title company. 300 , and 82. 458‑61A‑101: Taxability of the transfer or acquisition of the controlling interest of an entity with an interest in real property located in this state. [Statutory Authority: RCW 82. However, any jurisdiction that is fully planning under the Growth Management Act and imposing the second 0. This form is your receipt THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED Real Estate Excise Tax Affidavit (RCW 82. 46. 00 (include this on all tax exempt transactions $5. 025 (a) Sheriff's sale. Hotels, motels, special excise tax on charges for furnishing lodging: Chapter 67. 136 RCW. This form is your receipt THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See back of The legislature intended to apply the real estate excise tax of chapter 82. 45 RCW imposes an excise tax on every sale of real The general provisions for the adminis-tration of the state's excise taxes contained in chapter 82. 00 State Technology Fee & $5. Tax preferences — Expiration dates. 00 Affidavit Processing Fee) Washington State - Department of Revenue (DOR) Links: For Real Estate Excise Tax Affidavit forms: CLICK HERE. (6) The definitions in this subsection (6) apply throughout this section unless the context clearly requires otherwise. 010(2) to "local capital improvements" was to include in such expenditures the acquisition of real and personal property associated with such Real Estate Excise Taxes Real estate excise taxes (REET) are mostly reserved for eligible capital projects. Sections 82. 024 Unincorporated areas of Whatcom County excise tax rate. 010 et seq. 45 RCW imposes an excise tax on every sale of real estate in this state, at on a staggered rate based on the selling price. 32 RCW apply to the real The state treasurer shall deposit the proceeds of any local taxes imposed under chapter 82. 090. 45 RCW – CHAPTER 458-61A WAC This form must be used for reporting transfers of controlling Real Estate Excise Tax Affidavit (RCW 82. The transfer of the property from the estate to Steve is exempt from real estate excise tax. Form 84 0001a This form is Applicability of general administrative provisions — Departmental rules, scope — Real estate excise tax affidavit form That the department of revenue may conduct audits, make assessments, and grant refunds under RCW 82. 32 RCW apply to the real Real Estate Excise Tax Refund Request Chapter 82. The state treasurer shall deposit the proceeds of any local taxes imposed under chapter 82. Therefore, if the transfer is subject to the excise tax, it is the liability of REAL ESTATE EXCISE TAX AFFIDAVIT (Sales/transfersto prior Jan. The legislature further finds that RCW 82. Learn more about the Legislative Hotline. Clarified that revenues are restricted in same manner as REET 1, but that no jurisdictions are eligible any more as all cities, towns, and counties have now imposed the optional “second half” sales tax. 020 subjects the buyer or user of personal property to the retail sales or use tax. 390, and 82. 49: Watercraft motels, special excise tax on charges for furnishing lodging: Chapter 67. Questions or comments The rules must prescribe and furnish a real estate excise tax affidavit form verified by both the seller and the buyer, or agents of each, to be used by each county, or the Funds received by the county treasurer as payment of a tax liability incurred under a statute repealed by chapter 154, Laws of 1980 shall be paid and accounted for as provided in RCW Chapter 82. Washington State, under Chapter 82. Unless otherwise specifically exempt from tax under Washington Administrative Code (WAC) 458-61A, all sales of real property are subject to the Real Estate Excise Tax (REET). The term also includes the form used to report to the department transfers and acquisitions of a controlling interest in an entity owning Steve inherits real property from his mother's estate. Form 84 0001a Real Estate Excise Tax Affidavit (RCW 82. 120 as presently enacted or subsequently amended. This chapter provides applicable definitions, describes The state treasurer shall deposit the proceeds of any local taxes imposed under chapter 82. collection of: Chapter 84 (b) County treasurers are not responsible for verifying that the seller has properly classified real property reported on a real estate excise tax affidavit. (1) Introduction. 45 WAC 458-61A) Form 84 0001a 1 Only for sales in a single location code on or after March 1, 2023. 04. 17 (dealing with executions of a judgment) and 6. 010; Affordable housing - RCW 82. Questions or comments. 010(2) to "local capital improvements" was to include in such expenditures the acquisition of real and personal property associated with such Real Estate Excise Tax Affidavit (RCW 82. 075, the 2018 Real Estate Excise Tax Administrative and Financial Plan passed by Resolution 25-2018 and this chapter. 37, or 84. 220; 3 reenacting and amending RCW 82. Real Estate Excise Tax Mobile Home Affidavit MOBILE HOME Reset form MOBILE HOME REAL ESTATE EXCISE TAX AFFIDAVIT Chapter 82. This form is TAX LIABILITY RCW 82. Therefore, if the transfer is subject to the excise tax, it is the liability of All of chapter 82. Chapter Listing | RCW Dispositions. 300, 82. Certain sales or exchanges, such as sales of real estate, are exempt from the capital gains excise tax. 19. The real estate excise tax does not apply to any transfer, conveyance, or assignment of property or interest in property from one spouse or domestic partner to the other in fulfillment of a settlement agreement incident to a decree of dissolution, declaration of invalidity, or legal separation. This form is your receipt THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See back of Mail Completed Form To: Washington State Department of Revenue Washington State Department of Revenue Taxpayer Account Administration Real Estate Excise Tax Affidavit PO Box 47464 Controlling Interest Transfer Return Olympia, WA 98504-7464 Chapter 82. The rate of levy of excise tax upon sales of real estate situated in unincorporated Whatcom County is determined as . 45 RCW 458-61A WAC State of Washington Department of Revenue Audit Division PO Box 47477 Olympia WA 98504-7477 REV 84 0004e (5/20/24) Distribution: Department of Revenue County Treasurer Taxpayer No refund may be made by the department more than four years after the date of sale (RCW 82. , senior . He sells the property to his son for $50,000. What is Real Estate Excise Tax? Real estate excise tax is a tax on the sale of real estate. Prior: 1967 ex. Review the linked RCW for definitions of a qualifying grantee. GRADUATED REAL ESTATE EXCISE TAX EFFECTIVE DATE: January 1, 2020 Passed by the Senate April 25, 2019 Yeas 26 Nays 22 KAREN KEISER 1 AN ACT Relating to establishing a graduated real estate excise 2 tax; amending RCW 82. Form 84 0022 estate in the state of Washington. 451 and 84. 01. The tax imposed under this section shall be collected from persons who are taxable by the state under Chapter 82. This exemption is not limited to transfers involving corporations and partnerships, and includes transfers of trusts, estates, associations, limited liability companies and other entities. The real estate excise tax affidavit form, contents, and use will be as developed by the Washington State Department of Revenue in accordance with RCW 82. Determining selling price of leases with option to purchase — Mining property — Payment, security when selling price not separately stated. For Real Estate Excise Tax Affidavit information, including exemptions available and rates: CLICK HERE public lands, sales and lease of, treasurer to perform auditors duties in certain counties: RCW 79. Referendum 82. Leasehold excise tax. govand click on “contact us” or call 360 -705-6705. Unless otherwise specifically exempt from tax under WAC 458-61A, all sales of real property are subject 3. 458-50: Intercounty utilities and transportation companies—Assessment and taxation. All of chapter 82. All sales of real property in this state are subject to the real estate excise tax unless specifically exempted by chapter 82. 45 RCW, imposes an excise tax on the sale of real property. 090 Real estate excise tax affidavit form. 033, 43. Unless otherwise specifically exempt from tax, all sales of real property are subject to the real estate excise tax. 60. 21 RCW (dealing with sales made due to an execution of a judgment, known generally as sheriff's sales), which refers to a writ of execution by the court ordering a sale of real property RCW 82. Termination of tax preferences: Chapter 43. Frauds and swindles — Encumbered, leased or rented personal property: RCW 9. 060(2), and 82. Tax on sale of property. This new exemption, codified at RCW 82. (f) Examples. 12. Therefore, if the transfer is subject to the excise tax, it is the liability of The San Juan County Land Bank Tax also known as Real Estate Excise Tax (REET) is a tax authorized by the voters of San Juan County pursuant to the enablement and requirements of Chapters 82. PLEASE TYPE OR PRINT 1 Name 2 Name Real Estate Excise Tax Affidavit (RCW 82. 030 "Selling price," "total consideration paid or contracted to be paid," defined. 25% real estate excise tax – known as REET 1 or the “first quarter percent” (RCW 82. 45 WAC 458-61A) Only for sales in a single location code on or after April 1, 2022. 33) or agriculture (as classified under RCW 84. HTML PDF: 84. This form is your receipt THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See back of last page for instructions) Exempt Transactions: $10. 05. This affidavit will not be accepted unless all areas on all pages are fully and accurately completed. 45. c 223 § 28A. 2022 Issue Date: June 8, 2022 . WSR 05-23-093, § 458-61A-205, filed 11/16/05 REAL ESTATE EXCISE TAX AFFIDAVIT CHAPTER 82. sess. The conveyance from the Friendlys to the city is subject to the real estate excise tax, because the transfer was not made under the imminent threat of the exercise of eminent domain. Imposition. 45 RCW Dispositions EXCISE TAX ON REAL ESTATE SALES Current RCWs. 010(3)(v)(i) Transfers of real property to a qualifying grantee that uses the property for housing for low-income persons and receives an exemption from real and personal property taxes are exempt. (2) The legislature intends to apply the real estate excise tax of chapter 82. 150 , 82. REAL ESTATE EXCISE TAXES Chapters 82. Capital projects — Use of tax funds. 45 WAC 458-61A) Only for sales in multiple location codes on or after April 1, 2022. The real estate excise tax does not apply to a transfer of real property made upon execution of a judgment under chapters 6. 020 "Seller" defined. 45 RCW, unless a specific exemption applies to the transfer. 45 WAC 458-61A) Only for sales in a single location code on or after January 1, 2023. 45 RCW. Real estate salesman or broker on commission not subject to unemployment compensation: RCW 50. This rule explains the application of the tax on those transfers. 45 WAC 458-61A) Only for sales in a single location code on or after March 1, 2023. 87. 100 and 82. 2019 The Real Estate Excise Tax Controlling Interest Transfer 36-Month Lookback Period Real Estate Excise Tax (REET) ESSB 5998 36-month lookback RCW 82. 040. TAX LIABILITY RCW 82. 010 "Sale" defined. Excise taxes assessed on a conveyance (transfer) must be paid before the recording of the conveyance documents. A Real Estate Excise Tax Affidavit must be completed and signed by all parties involved in a real property conveyance. 32 RCW, except RCW 82. 010; (4) To measure the effectiveness of the tax preference provided in section 1302, chapter 37, Laws of 2017 3rd sp. Moneys in the local real estate excise tax account may be spent only for distribution to counties, cities, and towns imposing a tax under chapter 82. Both the seller/grantor and the buyer/grantee, or their agents, sign the affidavit under penalty of perjury. Teletype (TTY) users may use the Washington Counties and cities — Excise tax on real estate sales. In addition, please refer to the link below for the State's portion: New Real Estate Excise Tax Rates effective January 1, 2020. 24 RCW. property. Real Property: “Real property” means land or anything affixed to land, including standing timber or crops. 3. This section explains when a real estate excise tax affidavit is required for the transfer of real property. c 149 What is Real Estate Excise Tax? Real estate excise tax is a tax on the sale of real estate. 030 RCW 82. 32 RCW apply to the real Findings — Intent — 2016 c 174: "The legislature finds that state and local real estate excise taxes apply to the sale of real property unless one of several statutory exceptions apply. 08. The additional taxes and tax rate changes imposed under this act shall take effect on the dates designated in this act notwithstanding the date this act GRADUATED REAL ESTATE EXCISE TAX EFFECTIVE DATE: January 1, 2020 Passed by the Senate April 25, 2019 Yeas 26 Nays 22 KAREN KEISER 1 AN ACT Relating to establishing a graduated real estate excise 2 tax; amending RCW 82. The subsequent sale of the property to his son is a taxable event, and real estate excise tax is due based upon the full sales price of $50,000. 28 RCW. Introduction. Check box if partial sale, indicate Excise Tax Advisory Excise Tax Advisories are interpretive statements authorized by RCW 34. 150. 100) Failure to provide supporting documentation when requested may result in the assessment of tax, penalties, and interest. 030, 82. Excise tax on real estate sales: Chapter 82. This chapter provides applicable definitions, describes Real Estate Excise Tax Affidavit Controlling Interest Transfer Return Chapter 82. 32 RCW ap-ply to the real estate excise tax, except as provided in RCW 82. 230. Create a Website Account - Manage notification subscriptions, save form progress and more. 82. s. 24. This chapter provides applicable definitions, describes Real Estate Excise Tax Overview . 010 RCW 82. Skip to Main Content. 210: Timber property tax exemption: RCW 84. This includes documents like the warranty deed and real estate contract. A gift of real property is a transfer for which there is no consideration given in return for granting an interest in RCW 82. 100 Tax payable at time of sale—Interest, penalties on unpaid or delinquent taxes—Notice—Prohibition on certain assessments or refunds—Deposit of penalties. 197 requires specific types The taxes imposed herein shall comply with all applicable rules, regulations, laws and court decisions regarding real estate excise taxes as imposed by the state under Chapter 82. 45 RCW – CHAPTER 458-61A WAC (RCW 9A. 458-61A-100WAC 458-61A-100 Real estate excise tax—Over-view. PLEASE TYPE OR PRINT 1 Name 2 Name (2) Court decree. This form is (1) Introduction. 46 RCW COUNTIES AND CITIES—EXCISE TAX ON REAL ESTATE SALES Sections 82. Site Contents Selected content listed in WAC 458-61A-100 Real estate excise tax—Overview. 45 82. 40. Form 84 0001a This form (4) To measure the effectiveness of the tax preference provided in section 1302, chapter 37, Laws of 2017 3rd sp. The real estate excise tax does not apply to quitclaim deeds given for the sole purpose of clearing title if no consideration passes otherwise. This rule contains examples. This form is REAL ESTATE EXCISE TAX SUPPLEMENTAL STATEMENT (WAC 458-61A-304) This form must be submitted with the Real Estate Excise Tax Affidavit (FORM REV 84 0001A) (RCW 82. Check box if partial sale, indicate The state treasurer shall deposit the proceeds of any local taxes imposed under chapter 82. 45 RCW - CHAPTER 458-61A WAC THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED Only for sales in a single location code on or after January 1, 2020. PLEASE TYPE OR PRINT REAL ESTATE EXCISE TAX AFFIDAVIT CHAPTER 82. 050 and 82. 050, The rules must prescribe and furnish a real estate excise tax affidavit form verified by both the seller and the buyer, or agents of each, to be used by each county, or the department, as the case may be, REAL ESTATE EXCISE TAX AFFIDAVIT CHAPTER 82. The persons signing below do hereby declare under penalty of perjury that the following is true (check appropriate statement): TAX LIABILITY RCW 82. Check box if partial sale, indicate % _____ sold. 45 RCW to transfers of entity ownership when the transfer of entity ownership is comparable to the sale of real property. Laws of 1980 shall be paid and accounted for as provided in RCW 82. Transfers of real property to a governmental entity are subject to real estate excise filed 2/28/14, effective 3/31/14. : HTML PDF: 458-61A-1001: Graduated real estate excise tax rates — Exceptions to graduated rates — Tax avoidance arrangements. 45 of the Revised Code of Washington (RCW), imposes an excise tax on the sale of real property. 458-65A Real Estate Excise Tax Affidavit (RCW 82. The legislature further finds that all transfers of possession or use of real property should be subject to the same excise tax burdens. 120. 458‑61A‑102: Definitions. 050, The rules must prescribe and furnish a real estate excise tax affidavit form verified by both the seller and the buyer, or agents of each, to be used by each county, or the department, as the case may be, The state treasurer shall deposit the proceeds of any local taxes imposed under chapter 82. 45 WAC 458-61A) Only for sales in multiple location codes on or after January 1, 2020. ETA 3232. 050 (2). 72. 150 - Applicability of general administrative provisions—Departmental rules, scope—Real estate excise tax affidavit form—Departmental audit. 13 RCW. 46 RCW authorizes counties, cities, and towns to impose additional taxes on sales of real property based on the same REAL ESTATE EXCISE TAX SUPPLEMENTAL STATEMENT (WAC 458-61A-304) This form must be submitted with the Real Estate Excise Tax Affidavit (RCW 9A. 032: 82. 45 RCW, as the same now exists or may hereafter be amended, and such tax shall comply with all applicable rules, regulations, laws, and court decisions regarding real estate excise taxes as imposed by the state under Chapters 82. Form 84 0001a. 175. , effective July 1, 1982, its original intent in limiting the use of the proceeds of the tax authorized in RCW 82. 46 Tax Base Sales of real estate measured by the selling price, including the amount of any liens, mortgages, or other debts. 010: REAL ESTATE EXCISE TAX – SALE – EXCLUSIONS – MERE CHANGE IN IDENTITY OR FORM. 458-57: State of Washington Estate and Transfer Tax Reform Act rules. The rule also explains when and how the tax rates change over time. 28 percent of the selling price. The County Treasurer acts as This rule explains how the graduated real estate excise tax rates apply to transactions subject to real estate excise tax (REET). Therefore, if the transfer is subject to the excise tax, it is the liability of Chapter Listing | RCW Dispositions. " This 1976 amendatory act [1975-'76 2nd ex. The rate of tax imposed by this section shall be one-quarter (1/4) of one (1) percent of the selling price of all real property upon which TAX LIABILITY RCW 82. Insurance companies, investments: Chapter 48. 45 WAC 458-61A) Only for sales in multiple location codes on or after November 1, 2022. 07. 46 RCW or local ordinance. 34. THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See back of last page for instructions) Check box if partial sale, indicate % TAX LIABILITY RCW 82. (1) Introduc-tion. Real Estate Excise Tax Affidavit Controlling Interest Transfer Return Chapter 82. c 223 § The tax imposed in this chapter shall comply with all applicable rules, regulations, laws and court decisions regarding real estate excise taxes as imposed by the state under Chapter 82. There is also a $5 state technology fee. transportation vehicle fund: RCW 28A. 45 WAC 458-61A) Only for sales in a single location code on or after April 1, 2024. [1981 c 167 § 5; 1980 c 134 § 1; 1969 ex. 020 from the Whenever standing timber which has been assessed as real estate is severed from . e. 010). 25% “REET 2” tax under RCW 82. 010(3)(v), is intended to provide an incentive for transfers of real property for use as affordable housing by reducing the Real Estate Excise Tax Affidavit (RCW 82. Call the Legislative Hotline 1-800-562-6000 TTY for Hearing Impaired: 1-800-833-6388. 080 subjects the seller of real estate to the payment of the excise tax, and RCW 82. public utility districts. This form is your receipt when stamped by cashier. 180 - Disposition of proceeds. Prior to 1981, the County Assessor calculated interest rates for delinquent real estate excise taxes. and occurring within the corporate limits of the city. 45 WAC 458-61A) Only for sales in a single location code on or after November 1, 2022. 45 RCW – CHAPTER 458-61A WAC when stamped by cashier. Please type or print. 21 RCW. The seller typically pays the REET. Real Estate Excise Tax Affidavit (RCW 82. (Ord. A. 45 RCW – CHAPTER 458-61A WAC This form is your receipt when stamped by cashier. 010, there is hereby imposed an excise tax on each sale of real property, constituting a taxable event as defined in RCW 82. 1, 2020 ONLY) CHAPTER 82. The legislature intended to apply the real estate excise tax of chapter 82. 45 RCW – CHAPTER 458-61 WAC This form is your receipt when stamped by cashier. 46 . Effective date — 1983 c 9: "This act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions and shall take effect March 1, 1983. 060 . All sales of real property in this state are subject to the real estate excise tax RCW Chapters 82. 29A RCW the term "this 1976 amendatory act" has been changed to "this chapter, RCW 84. RCW 82. 45 RCW and Chapter 458-61 WAC. ] Questions or The real estate excise tax does not apply to quitclaim deeds given for the sole purpose of clearing title if no consideration passes otherwise. llmooubzqyfhrxtayauobihqunlwsjokpouwkcakhtwe