Washington Property For Sale
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FAQ
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.
At least 61 years of age or older. Retired from regular gainful employment due to a disability. Veteran of the armed forces of the United States receiving compensation from the United States Department of Veterans Affairs at one of the following: Combined service-connected evaluation rating of 80% or higher.
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%
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.
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.