OPPOSE HB1951 NOW!
On Thursday, January 27th, 2022, the Legislature will hear House Bill 1951. This bill will add huge new liability to ALL sellers of real estate in Washington, including commercial, and overturn decades of precedent in real estate transactional law.
HB 1951 will remove the "don't know" checkmark from the seller disclosure form (Form 17), make all sellers answer either yes or no to every question on the form, and make them liable for those answers -- even if they do not have actual knowledge about a question.
UPDATE – WASHINGTON’S LAWYERS AND REALTORS READY TO FIGHT INSLEE’S TAX PROPOSALS
Governor Inslee’s tax proposals on commercial real estate property sales include a new capital gains tax of 9% and increasing the state portion of the real estate excise tax by 66% and nearly doubling the state portion of the real estate excise tax.
GOVERNOR INSLEE PROPOSES
CRE TAXES IN WASHINGTON
As we begin preparing for Legislative Day in Olympia on January 24, 2019, it will be important that you are well versed on the taxes being proposed during the upcoming state legislative session by Governor Inslee. They will have a MAJOR impact on commercial real estate, if implemented.
HERE is a summary provided by Washington REALTORS. WSCAR’s lobbying efforts will be critical in 2019.
We strongly suggest you review this summary and share with all of the brokers in your offices, and encourage you to share with your clients, because they will be impacted.
Lastly, we encourage you and all of your peers to contact your legislators to voice your opinion on the proposed taxes. If you are unsure who the legislators are in your district, they can be looked up here:
Let us know if you have any additional questions or comments.