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The seller of the property typically pays the real estate excise tax, although the buyer is liable for the tax if it is not paid. Unpaid tax can become a lien on the transferred property.
What is Washington's real estate excise tax? For the portion of the selling price that is:Real Estate Excise Tax RateLess than or equal to $525,0001.1%Greater than $525,000 and less than or equal to $1,525,0001.28%Greater than $1,525,000 and less than or equal to $3,025,0002.75%Greater than $3,025,0003.0%
No. Washington's capital gains tax does not apply to the sale or exchange of real estate. It does not matter: How long the seller owned the property.
Overview. Effective January 1, 2022, Washington's new capital gains tax applies a 7% tax on an individual's adjusted long-term capital gains that are allocated to Washington. Tax only applies to individuals.
Liability for the tax is between the purchaser and seller.