Property Tax Resources

41 minutes reading time (8274 words)

Washington Property Tax Updates

Updated december 2019

Washington’s Tax on Transfers of Real Estate Is Changing

A rush to close large real estate transactions in Washington occurred at the end of 2019 due in part to a legislative amendment to the state’s real estate excise tax starting January 1, 2020. The real estate excise tax applies to sales of real estate or a controlling interest in an entity owning real estate in Washington. Through 2019, the tax was typically 1.78 percent of the real estate value, based on a state component (1.28 percent) and local component (typically 0.5 percent). The state component will change to a graduated rate structure resulting in a top combined rate of 3.5 percent:

Value -- State Component Tax Rate

  • up to $500,000: 1.1%
  • $500,000 to $1.5 million: 1.28%
  • $1.5 million to $3 million: 2.75%
  • above $3 million: 3%

Property valued at $1.8 million or more will see an overall increase in real estate excise tax under the new rate structure.

Michelle DeLappe
Foster Garvey
American Property Tax Counsel (APTC)

Virginia Property Tax Updates
Washington DC. Property Tax Updates

American Property Tax Counsel

Recent Published Property Tax Articles

COVID-19 Update

Washington state was hit early and hard by the COVID-19 pandemic.The effects on the economy, and the implications for property values, are enormous. State and local government officials have imposed a series of restrictions with the latest being Governor Inslee's March 23 "stay at home" order that closes all nonessential...

Read more

Property Tax Planning Delivers Big Savings

Ask the right questions, understand your rights and develop a strategy to avoid costly mistakes.

When it comes to property taxes, what you don't know can hurt you. Whether it is failing to meet a valuation protest deadline, ignorance of available exemptions or perhaps missing an error in the assessment records...

Read more

Achieving Fair Taxation Of Big Box Retrofits

Issues to address to ensure a big box retrofit doesn't sustain an excessive tax assessment.

As more and more large retail spaces return to the market for sale or lease, creative investors are looking for ways to breathe new life into the big box. These retrofits saddle local tax appraisal districts...

Read more

Member Spotlight


Forgot your password? / Forgot your username?