As you well know, Washington is facing an affordable housing crisis. We are one of the lowest-ranked states in the nation when it comes to housing supply.
While the State Legislature is prioritizing housing this year, they are also considering increasing the Real Estate Excise Tax (REET). This REET increase is intended to fund affordable housing.
The bill would increase the REET on all sale transactions over $5M to 4% (from 3%) and allows local jurisdictions to add a .25% to ALL sale transactions -- potentially adding THOUSANDS of dollars in taxes to the cost of all homes and commercial properties.
You can't make housing more affordable by increasing the cost of housing. We need you to please send a pre-written message to your lawmakers and inform them of that right away.
Please click on the link below to send an automated message to your state representative and senator and help ensure that Legislators hear from REALTORS® and commercial practitioners all across the state.